: Will I have to pay several thousand dollars for a premium domain every year? I want to buy coolandexpensivedomain.com domain that costs a couple of thousand dollars. When the domain is transferred

@Bryan171

No, you will not have to pay several thousand of dollars or the same amount that you bought the ownership when you renew this Domain name.

After you transfer the Domain to your preferred Registrar and take full ownership, you only pay the Domain renewal price that is defined by your Registrar and nothing more.

After Domain transfer is completed, activate "Domain Locking (Registrar Lock)" just in any case.



From icannwiki.com/Domain_Locking :


Domain Locking, sometimes referred to as Registry or
Registrar-locking, describes the service provided by registries or
registrars to "lock" a domain name so that it cannot be transferred or
altered without the explicit permission of the registrant.

If a lock is in place, the registrant must request that the name be
"unlocked" before such changes can be made.


From en.wikipedia.org/wiki/Registrar-Lock :


REGISTRAR-LOCK is a status code that can be set on an Internet domain
name by the sponsoring registrar of the domain name.

This is usually done in order to prevent unauthorized, unwanted or accidental
changes to the domain name.

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