Contributed by Carpesomediem
Once you pay for domain name registration, whether it be bu check or credit card, certain steps are taken to ensure that the domain name you just purchased is not only reserved but referred to you as your own to other vendors, services and world wide web users. Point of payment is the key to the internet, once payment is received and approved, everything from shipping to purchases to web space is reserved, acted on or bought.
Once you pay for domain name registration, the company you registered with puts a placeholder on that name as it appears on the internet until the payment clears. Once the payment clears, the domain name is officially handed over as your ownership and property, until said contract with company either expires or is renewed elsewhere.
The registration is stored on file and usually accessible by a Whois program. By downloading a program, or using a web site that utilizes Whois, you can determine many things about your new domain. You can find out, once paid, who owns it - you, silly - and other information such as who's server it is on and what-not.
Twenty-four to 48 hours later, you should receive confirmation that the domain is yours and this information you'll want to forward to either your web host service provider or whoever is hosting your web site. That way, they can make sure that the domain name redirects to your pages as opposed to a connection refused or invalid page.
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