Bitcoin is at a very interesting intersection in its humble journey. Bitcoin Layer 2 solutions are surging as we approach one of the Bitcoin halving milestones.
Although Bitcoin Layer 2 solutions operate very differently than what we have seen from Ethereum Layer 2 solutions, the potential for these Layer 2 solutions is enormous and could unlock utility in Bitcoin that has always been considered missing.
Stacks (STX) is one of the Bitcoin Layer 2 solutions that appears to be leading the category, with a lot of development happening around it. I often talk about them on my Twitter account. If you want to stay updated, you can join me here.
In this tutorial, I want to guide you on how to purchase a .btc domain name.
How do .btc domain names work?
A .BTC name is registered by sending two transactions to the BNS smart contract on Stackchain. BNS is the “Bitcoin Name System”., a decentralized name registration app that can be compared to its Ethereum counterpart ENS. The transaction is completed in Bitcoin. Your BTC name is fundamentally under your control and resistant to confiscation or censorship.
What is the purpose of a .btc domain name?
- You can currently use .btc domain names to receive Lightning payments, and you can expect more usage as BTC Layer 2 usage increases. See instructions here.
- Use a .btc domain name as your web page. See instructions here.
- Connect your Nostr profile to your .BTC name.
- Engrave your .btc name on Ordinals. (This is the homepage)
Moreover, as Bitcoin becomes more adopted, these .btc domains could become very useful and valuable.
What do I need to buy a .btc domain name?
- STX tokens can be purchased at KuCoin, Bybit, etc.
- You will also need an STX wallet like Xverse. According to the official website btc.us, Bitcoin Name Service is currently not compatible with .btc domain names. However, if you have an idea for a premium domain name, you shouldn’t miss it just because it doesn’t currently have hardware wallet integration.
- Lastly, choose a cool domain name like CoinSutra.btc or similar. Ugh! 😉
How much does it cost to purchase a .btc domain name?
At the time of writing this guide, you can purchase a .btc domain name for 5 years for 2 STX. The price of STX at the time of writing is about $2.50, so over 5 years, it is about $1.
Need a step-by-step guide to purchasing a .btc domain name?
Step 1: Set up your STX wallet: Xverse wallet
Download and set up your Xverse wallet from the official App Store. Also available as an Android, iPhone, and Chrome add-on.
Step 2: Purchase STX tokens and transfer them to Xverse Wallet.
Once you have your wallet set up, it is time to purchase STX tokens and transfer them from the exchange to your Xverse wallet.
The steps are as follows:
Where to buy STX tokens:
After purchasing STX tokens, go to your Xverse wallet and copy your STX address. (see screenshot below)
Use this address to withdraw STX tokens from your cryptocurrency exchange account to your Xverse wallet.
- If you withdraw STX to a personal wallet such as Xverse or Leather, the memo field will be empty.
- A note is required when transferring STX from one cryptocurrency exchange to another.
It may take a few minutes to receive your STX tokens.
Step 3: Purchase a .btc domain name
Once you have STX tokens in your Xverse wallet, use the browser function of your Xverse wallet to go to https://btc.us and search for the domain name you want to purchase.
Now complete the normal login with your wallet and proceed to the final payment page.
There are two options here:
Basic and Advanced
Advanced is a two-step process, and if you are purchasing a valuable BNS (.btc) domain name, we recommend using the Advanced feature as it prevents pre-launch. If it’s a common name, level 1 is fine.
For serious users, we recommend reading more about the differences before choosing one.
Note: The advanced features did not work when I purchased the domain, so I used the basic features.
It will be interesting to see if .btc domain names become as popular as .ens domain names. Only time will tell, but for now, $1 per year per domain name isn’t that bad and could be an opportunity for future Degens and domain managers to purchase premium domain names.
Important facts about .btc domain names:
- Only one domain name can be stored in one wallet. However, the Xverse wallet allows you to create multiple sub-accounts with a single seed word.
- .BTC names range from 1 to 48 characters.
- To manage your .btc domain, go to BTC.us and use the login feature to connect to your wallet.
- Twitter profile @stacks
Thanks for your feedback!
