When it comes to registering a new domain name, you are able to test-drive it for up to five days.

During these five days, if you are unhappy with the domain name, you are able to request a refund from your registrar and they will place the domain name back into the public registry, where it will once again be available for registration.

This means that you can register a domain name at absolutely no risk to you - test it out - and if you find that it will be a difficult one to sell or promote, you can get your money back quickly and easily.

Knowing this, it can certainly open up the potential of registering a handful of domain names, evaluating their marketability and weeding out the ones that are not feasible while saving money in the process, rather than squatting on a ton of domains that you just can't seem to move.

Tasting Domains should not be confused with domain kiting, which is the process of deleting a domain name during the 5-day grace period and instantly re-registering it for another five-day period.

This process is actually repeated any number of occasions with the end result of getting the domain authorized without ever really paying for it.

One word of caution however, is that Google has indicated that their Adsense program will consistently scour the databases for domain names that are repeatedly registered and then dropped, removing the domain names from the Adsense program if these domainers are generating an income through Adsense with the intention of requesting a refund every five days.

This means that you should use the ability to domain test wisely and legitimately.

These five days should be spent testing the waters, getting a feel for whether you believe the domain is a viable one and conducting market research to determine the profitability of the names that you select.

Accepting Payment For Domain Sales

When you sell your domain name, you will want to ensure that the transaction goes through successfully prior to handing over the domain name to your customer.

One easy way to manage domain sales, is by using an Escrow service, where a middleman works at managing the sale by accepting payment from your customer, and transferring it to you once they have verified that the domain name has been transfered over.

With Escrow, you will pay a fee for using their services and so it's recommended that you only use it with larger domain sales. The most popular of these services, being Escrow.com

Paypal will suffice for smaller domain sales.