CryptoExchange.com Introduces Crypto Domain Escrow + Crypto to $ Conversion for Secret Brokerage Sales

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CryptoExchange.com Introduces Crypto Domain Escrow + Crypto to $ Conversion for Secret Brokerage Sales

In one of our bi-weekly domain sales reports last month you may remember seeing Three of the ten best sellers jointly credited to SecretBrokerage.com

and CryptoExchange.com

– Rake.com at $175,000, Hot.co.uk at
$99,500
and
Stretcher.com
at $35,000. Besides being impressive sales, I noted in this report that in each case the buyer wanted to pay with cryptocurrency but the seller wanted to receive US dollars.

The resulting extra hoops can derail a deal, but all three sales were made in transactions protected by frictionless escrow through a SecretBrokerage (SB) partnership

+

Founder Arif Sengoren formed with Crypto Exchange. As part of this agreement, Arif also became Senior Vice President
of a new Domain division at Crypto Exchange.

It’s the kind of service that many people have been looking for since the Covid-fueled domain and digital asset sales boom began a few years ago. This push led many veteran domain owners who weren’t sold on crypto to find themselves in a market where crypto-rich buyers wanted to use their preferred currency to diversify into domains. This is where Sengoren, who knows both sides intimately, saw an opportunity to team up
with Crypto Exchange (CE) to help the currency of both types flowing smoothly through this increasingly busy intersection of old and new.

Arif Sengoren
Founder, SecretBrokerage.com

I have now had the opportunity to return to Arif and get more details on exactly how the service works. It starts when a CE customer who has set their sites on a particular domain decides they also want SecretBrokerage.com’s help in acquiring that domain. In this case, if the buyer wants to pay in cryptocurrency but the seller only accepts US dollars, SB pays for the domain in dollars from their own account, this transaction being generally carried out via Escrow.com. Then, effectively becoming the seller, SB accepts the cryptocurrency payment from the buyer via CE which also provides a new cryptocurrency escrow service to protect both parties.

Arif noted, “SecretBrokerage uses CryptoExchange.com (CE) for our crypto transactions and CE sends their clients to us who want to acquire domains.
Rake.com
was a good example. The CE client wanted Rake.com and we were able to acquire it for him and allow them to pay with cryptocurrency.”

As most of our readers know, crypto prices have dropped significantly this year, so we had to wonder if that had any impact on the number of domain transactions that SB and CE process. Sengoren said, “No, the price of crypto has not affected the volume of transactions we do. People buy or sell domains with crypto for several reasons. It bears repeating – Confidentiality Confidentiality Confidentiality! Second, it is difficult for many people to collect crypto. Three, taxes. In many jurisdictions, using crypto to purchase a domain does not create any crypto profit tax. Four, diversification of their assets while keeping them digital-based. In the end, it was the overall economy that decided how many transactions to make.”

CryptoExchange manages transactions involving physical goods as well as digital assets. Their Bitcoin market allows consumers to purchase products with bitcoins and product owners to sell their items for cryptocurrency. Whereas areas were the best sellers in CE, watches are a good number two, followed by cars and immovable. Most transactions remain private, so the few domain sales that were flagged by SB/CE were only made public because the buyer and seller allowed the information to be released.

You can find out more CryptoExchange.com

and SecretBrokerage.com

on their respective websites. Also, as someone who has never owned or used cryptocurrency, I found the learning center to CryptoExchange.com to be a very useful resource. It covers all aspects of cryptocurrency, including definitions of dozens of terms that the crypto field has spawned.

Image of Bigstock

(Published October 12, 2022)

*****


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