Is it possible to still make money from domain names? It has been many years since the boom days when top domain names sold for huge sums of money. However their is still ways of creating an income from careful trading of domain names.

Buying and selling domain names for profit is something that many people are figuring out can still be done and can even be quite fun.

Here are tips from making money from domain names:

1. Buy recently expired domain names

You will find a searchable database of expired domains at whois.net. You can search by keyword but you cannot search by date unfortunately. You can also try deleteddomains.com where you can search by date.

A recently expired domain often has value. The previous owners may have let their renewal slip and you may be able to sell the domain name back to them. You may also be able to generate a revenue from traffic still visiting the domain name by using a domain parking service (see point 2).

2. Park your domains

Domain Parking is a simple way to earn money from your domains' natural traffic. If you have registered domain names, but they are not currently being used, then domain parking is a great way to put those domains to work, earning you revenue. You can make money without even lifting a finger! The idle domain is used to display relevant advertisements - every time a consumer clicks on one of the advertisements, you earn money.

3. There is always a market for peoples names as a domain.

Imagine if you could have your own name as a URL. How much would you pay for this? Some people will easily pay several hundred pounds for their name as a domain. Use a service like 123-reg to register your domain names.

Once you have bought the domain do a quick google search for the name you have bought. For example if you have bought the domain johnsmith.com then search for John Smith. You are sure to find companies, individuals, musicians, authors of that domain who will make you an offer for the domain. Just imagine if you had the domain name harrypotter.com (what would that be worth).

Try and avoid buying hyphenated domains.

4. Buy popular domain names with spelling mistakes

A good trick to earn a revenue is to find a popular website that gets large amounts of traffic. People often make mistakes when typing in an address. For example they may type facebok (spelt wrong) instead of facebook or the could type facebook.com.au (wrong extension) rather than typing facebook.com. You can earn a revenue from traffic that visit these dummy pages.

5. Buy book titles or famous people names

Buying domain names that include book titles is another trick. Or even buy possible book or film titles. You may have a film company contact you to buy the domain at some point. Do you know someone is going to be famous. Get there domain quick!

6. Buy popular phrases or sayings

7. Use an escrow service

Try using an escrow service such as sedo.com. They will acts as a secure third-party to provide technical assistance and security for your domain transfer. This service is critical to preventing loss of the domain name through fraud or technical error. It helps give both the buyer and seller confidence that the transaction is legitimate.