When you started looking into the internet as a possible way of making money by making some kind of online business, doing e-commerce, participating in online forums or writing blogs it is most likely that you came across the term 'domain names' very often without paying much attention though on their real meaning and capabilities.

Here is an innovative idea for you. There are people out there who are now millionaires by selling or trading domain names. Yes, just simple website names.

Sadly, it is a little late for you to take advantage of the low costs of the 80s for some major names, imitating that guy who bought the "pizza" domain name for a few cents a few decades ago and sold it recently for some million dollars. This doesn't mean though that there are no amazing alternatives for you out there. On the contrary, some people still buy and park some amount of domain names and put them back on the market when the demand from customers is high, either in general or for a particular type.

Let's say that you purchase the XXXX name with all likely extensions: .com, .net, .org etc. Since it's available you can purchase it for a few dollars. The next day, you might find a company going by the same name of XXX trying to put up its web site. The domain name that corresponds to the company is offered to you, so what you can do is sell the legal rights for the name to that company for the double, triple or even higher amount of money.

Is it as easy as it sounds? Absolutely not, it takes time and also research to find the best bargain. But it's up to you to do it. Here are a few tips for you:

- There are worldwide auctions for domain names which are sold for huge prices. Just a couple years ago a lucky man sold the "vista" domain name to guess who for 1.5 million dollars.

- Although most of the .com names have already been sold, the law of expiration works to your advantage. You can track down some good ones, get in touch with the owner and buy them before or during the expiration time for extremely low prices. Then you can sell for double and have your first big financial triumph. When you purchase for 0.5 what costs 1, you can hardly go poor ever.

- Domain world is about to change soon since the superpowers of the Internet and economy are already thinking of ways to avoid the lack of available domain names for sale , trade and use. This pretty much means that a completely new world is about to get under way and you should be knowledgeable and get your share in it.

Don't feel disheartened by the fact that some other people were faster and already found some niches purchasing as many as they could afford to pay. This game is never-ending and has room for many more.

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