Space ID, a decentralized domain name service, has gained popularity since the launch of its native token ($ID). Space ID allows users to register blockchain-based domain names via Binance smart chain, creating a robust identity system with human-readable usernames to replace complex alphanumeric characters for easy transactions across different dApps and blockchains.
Upon launching a new token, Space ID intends to reward early adopters of the domain name service with $ID tokens to show appreciation to core supporters of the platform with 47,600,000 ID tokens, which is 2.38% of the total ID token supply. Not to worry, Space ID has more airdrop rewards in place, as the platform intends to distribute 10% of its total supply as airdrops.
If you are an early adopter (you have a .bnb or .arb domain name as of March 10, 2023), you should check your eligibility and claim your tokens. However, if you haven’t interacted with the dApp before, worry not; you can still benefit from these airdrop rewards. To benefit from future airdrops, you’d be required to register a .bnb or .arb domain name to receive a voyage box, which gives you access to participating in Space ID’s season 2 airdrop.
If you don’t find airdrops thrilling, you can simply participate in the $ID token presale from the Binance Launchpad, which is currently live.
How To Purchase a (.bnb) domain With Space ID
Purchasing a .bnb domain with Space ID is a simple and straightforward process that can be completed in 5 simple steps.
- Visit the Space ID website and click on the button that says “Register your .bnb name!”
- Here, the Space ID dApp will be launched, and you will be required to connect your wallet (which must be compatible with the BNB chain)
- After connecting to the dApp, you will be presented with a search bar where you can search for a username of your choice; if your chosen username is available, then you can begin your registration.
- Select a number of years to register for and make a payment, which is just over $5 annually (gas fees inclusive).
- If no one else attempts to register the same name, your registration process will be completed within 30 seconds.
Your new (.bnb) domain will be linked to the wallet address you used to connect to the dApp. Hence, you can now perform crypto transactions with your new (.bnb) domain name instead of your complex wallet address.
What To Do With .bnb Domain Names
Blockchain domain names allow you to easily transform your complex addresses into simpler, more memorable ones, something as short as yourname.bnb, away from the regular 0xB1eE56511….695BFfF3. As a result, users can easily manage and access their wallet addresses while executing crypto transactions.
Below are some things you can do with your .bnb domain names
- Sending cryptocurrency
- Receiving cryptocurrency
- Making bulk crypto transfers.
Sending and Receiving Cryptocurrency with Domain Names via Cwallet
Although blockchain domain names have become popular in the crypto space, not all wallet services support them yet.
Cwallet is one of the pioneer wallets to facilitate sending and receiving tokens via domain names such as Space ID, unstoppable domains, and Ethereum Name Service (ENS), among others. More importantly, Cwallet allows you to make crypto transactions with ZERO fees; other than the network fees paid to blockchain miners, Cwallet takes out no fees on ALL TRANSACTIONS.
To send and receive tokens using domain names, Cwallet allows you to easily complete your transactions by filling in the .bnb domain name of the recipient in place of their regular wallet addresses, as shown below, via “wright.bnb.”
Interestingly, you can also utilize the Cwallet app to send and receive over 800 supported tokens. It’s simple, free, and convenient to use!
Sending Tokens with The Cwallet Bulk Payment Tool
Cwallet also facilitates instant bulk crypto transfers with domain names via the Cwallet Bulk Payment Tool. Simply sign up and log in to your Cwallet account, locate “Cwallet Bulk Payment,” and follow the prompts to outline your bulk payments correctly.
Hence, with a list of domain names, you can send cryptocurrency in batches to many people without paying transaction fees.
Web3 domain name services, including Space ID, make crypto transactions easier via easily rememberable names in place of complex addresses.
If you don’t have a .bnb domain name, follow the steps above to get a new one, and stand a chance to receive Space ID’s token ($ID) airdrops, and with your new domain name, you can make the most of Cwallet’s features by executing free individual and bulk transactions.
So, don’t delay any further; get a (.bnb) domain name via Space ID, and make the most of your new domain name with free transactions via Cwallet!