First off let’s talk about why you might want to take advantage of this:
- It’s inexpensive
- You will turn a long 40+ character address into a human-readable name that is easy to remember and without having to copy and paste
- It prevents lost transactions from mistyped addresses (if you type “cryptogree4ce.eth” it will say this is incorrect unless someone else has bought it)
- It enables you to store other records like your email or URL
- It enables you to setup a decentralized website via .onion or IPFS
- They will continue adding more features and improvements
In a few words: You can connect a .eth domain with your Ethereum address and receive payments in ETH to your wallet. Soon currencies like BTC, LTC, XRP, BNB & others will be able to be sent to an .eth domain from the supported apps & wallets.
ENS is already supported by platforms such as Opera Touch, Pandax, Cipher, Myetherwallet, Metamask, and Argent. ENS will soon support a dozen more wallets: Bitcoin.com Wallet, Atomic Wallet, Coinbase Wallet, Opera, Imtoken, Dcent, Trustwallet, Portis, Haven, Squarelink, and Coin Request. You can check all the supported wallets & apps at their website.
The easiest way to manage your .eth address is through Metamask. This is particularly good for people who are new to crypto and they won’t have to copy/paste addresses and double check them every time they make a transaction.
How to create an .eth address for only $5/year
You just need to follow the three steps they have laid out for you at ens.domains, you click on the dropdown for “Learn how to manage your name” and you’ll be good to go.
After that, you can easily add more records for other coins, content hashes, or text records. I’ve added my BTC, LTC & ETH addresses as well as my email and URL on my address cryptogreece.eth. According to Scott, who did the review below: “While there are currently other solutions out there like FIO and Unstoppable domains, I have found ENS to be the easiest, most widely adopted, and the most compatible with the most wallets”.
If you want to learn more about Ethereum Name Service .eth addresses you can watch this review by Scott Cunningham. Below this video there’s also an interview he did with Brantly Millegan, Director of Operations at ENM.