- Crypto Twitter member @cryptofelon shared how he bought a website domain for $16 and then sold it for $500,000 to a crypto exchange.
- He bought the domain in 2017 and sold it in September 2021, making a profit of 3,124,900%
- @cryptofelon was initially offered $500, then $200,000
- But he insisted he wanted 10 Bitcoin (BTC), which cost between $435,000 and $450,000 at the time.
There are several known ways to do this in the crypto-verse. Known methods include trading, early investment in projects and NFTs, and holding Bitcoin for several years.
Selling Crypto Web Domains Could Be Profitable, Too
However, a member of the crypto-twitter community, @cryptofelon, shared how he made a profit of 3,124,900% selling a crypto-related website domain to a multi-billion dollar crypto exchange after saying its representatives “to kick rocks”.
In his story which can be found in the Twitter thread below, @cryptofelon tells how he bought said website domain for $16 and would later sell it for half a million dollars.
how i bought a crypto domain for $16,
told a multi-billion dollar CEX to kick rocks,
and I negotiated my way from a $500 offer to sell for half a million dollars:
— cryptofelon (@cryptofelon) April 28, 2022
He owned the Crypto domain for 4 years
To begin with, he purchased the web domain in 2017 alongside other similar domains that have garnered buyer interest over the years. However, this one caught the eye of a persistent buyer who sent him an offer of $500 through the GoDaddy broker team. @cryptofelon quickly replied that he wanted 10 Bitcoin (BTC) for the site hoping “that would be the end of it”.
A week later, he was offered $200,000, a 400-fold increase over the original offer. But he ignored the offer, stating the following:
But that’s not what I asked. I wanted 10 bitcoins, and I was going to get 10 bitcoins.
And so, I ignored the offer. I turned down $200,000 – for a domain that only cost me $16. a profit of 12,500x. I knew my worth. They came back a few days later.
Cryptofelon refused the $200,000, which the broker was not very happy about, telling him he would probably lose everything. But @cryptofelon held firm and its initial price of 10 Bitcoin (BTC). He said:
They REALLY didn’t like it [10 Bitcoin]. Sent me a novel. Neglected my domain. I tried to shame myself for the reckless maneuver I was trying to make.
After that, radio silence. no answer. I waited. I had waited 4 years to sell this domain. I could wait longer.
And a week later, I finally reached out. I wanted 10 bitcoins, and to be honest, 10 bitcoins was cheaper than when I asked for $500,000…
And then I got it. $435,000. from $500 -> $200,000 -> $350,000 I have now traded a $16 domain for $435,000. I had done it.
[Feature image courtesy of Unsplash]