Epik buy now LP - sold my domain hasslefree

[frank-germany]

the most pleasant experience I have ever had selling a domain
just happend to me at epik . com

I had a domain with epik using their for sale lander
having a buy now price of $1488 USD

after an email inquiry for that domain from a lead
asking for price, I answered its $1488 USD Buy Now.

A few days later I got this email from epik

---

Dear Frank,

We are pleased to inform you that your domain XXXX has sold for the fee of $1488.
The domain has been pushed to the buyer's account. The funds have been deposited into your Masterbucks account. You can now use these funds commission-free and tax-free anywhere on Epik. Alternatively you can cash it out from your Masterbucks .com account. Congratulations on your sale.
Regards,
Marketplace Operations
Epik .com

--


thats it

no fees
no fees to transfer the money into my paypal
no fees to fund my epik account

easy - silently - uncomplicated

no auth code
no: we need to verify the funding
no: we are waiting to clear the funds
no emails: you have lead - but no sale ever happens like at uniregistry

simply a sale.
I love you epik !

thanks
Frank

@robepik

 

[Domains - Wanted]

Proceeds received from Godaddy to PayPal are exempted from from PayPal fees.

Huh? What's GoDaddy have to do with payouts from Epik?

 

[thekiller]

Payoneer doesn't charge for transfer to bank account, there is 2% conversion fees if the currency is different from USD. (There maybe a fees for certain countries though)

 

[Jurgen Wolf]

Yes, American ACH and Eurozone wires are at no charge with Payoneer, $15 SWIFT for others.

 

[Haroon Basha]

Huh? What's GoDaddy have to do with payouts from Epik?

I just given an example that there are cases where one need not pay PayPal fees on receiving funds.

 

[thekiller]

Yes, American ACH and Eurozone wires are at no charge with Payoneer, $15 SWIFT for others.

I always get funds to my bank in Pakistani Rupees without any additional fees. Just 2% USD-PKR conversion fees only. Most of the time transfer completed within a few hours on business days.

 

[Jurgen Wolf]

I'm talking about USD/EUR/GBP wires...

Yes... in certain countries Payoneer supports the payouts in local currency...
They use their internal network to do them, that's why at no fee except conversion.

 

[ramkumaritrvs]

You can cash out via bitcoin just for 2.5% fee.

Otherthan 2.5% there is no fee involved. Just got this info from Epik chat support.

I will use epik escrow for my upcoming deal

 

[frank-germany]

The amount credited to your PayPal account will be 5% lower than the withdrawal you ordered. Surprise, surprise! For some reason, they do a poor job of communicating this when ordering a withdrawal from your Masterbucks account

There is a week long verification delay if it's your first sale and you withdraw funds to PayPal. After that the withdrawal takes a few hours to a day.

yes there is a 5% paypal fee
which is calming my excitement a little

and it took them nearly 2 weeks for them to finally pay me
( needed to call support to get it done )

but still
I like it

funding my epik account was smooth and hassle / cost free
so at least if you plan to fund your renewals from sales
that looks like the perfect way to do so

( was planning to do that at uniregistry
but they have to many clitches in their system
for your domains faith you wouldn't want to rely on them to work properly )

 

[jl777]

It has no any sense to lose 5% and then withdraw via PayPal...
When you may pay just small fixed fee using Sedo and Payoneer...

It makes sense if you must offer buyers the option to pay with Bitcoin, because Epik accepts BTC for funding. Sedo and Payoneer do not accept Bitcoin.

Also apparently Payoneer is not a registrar so their escrow is presumably less seamless and potential problems could result.

Sedo Escrow (3% or min. $60) is the only one TRUE escrow in industry... they secure not only money but domains as well (at least for all popular registrars).

So we are comparing 5% to 3% now, with the Epik having the additional capability to accept Bitcoin. And Sedo is not a registrar, so again I think potential issues may arise that would be more seamless at Epik given it is a registrar.

I think the 5% is designed to cover the credit card transaction fees and chargeback costs which are free at Epik, unlike most of the others which charge a 3% fee for credit card purchases in addition to any escrow fee.

Presumably the fees incurred by Epik for accepting Bitcoin are less than for credit cards, but they apparently do not pass any of these savings on to the customer.

Not at all. Withdrawal from PayPal to a bank account is free of charge and takes about 2 working days.

I'm talking about withdrawal from Epik to your bank account...
If you are outside the USA - it will be: 5% + $40

Are you sure that Epik Masterbucks can be wired out to a bank account in a foreign country for $40? They mention none of these details any where on their websites. Where did you find that information?

The difference between $15 and $40 is irrelevant for someone who is selling multiple domains and will delay cashing out the Masterbucks until the cashout value exceeds a few $1000s.

Disclaimer: depending on how you look at this, there is a 2% hidden fee as PayPal allows withdrawals in local currency only, at a less than optimal rate of HK$7.60 (as opposed to, say, HK$7.75). Ditto for other currencies. We are working on mitigating this issue.

For non-US bank USD accounts it is about 4 – 5% less losses due to the unnecessary (inane!) double foreign exchange conversion when withdrawing from Paypal to that USD account in a non-US country, because Paypal forces the withdrawal to be in the local currency of that non-US country. USD accounts are available in many if not most non-USA countries including countries in Europe. Given that Euro and Pound are going to parity with (or lower than) the USD over next several years, it makes sense to hold USD instead of local currency.

There is an alternative domain marketplace at Namecheap and Epik's domain registration and renewal prices are higher than Namecheap. And Namecheap also accepts Bitcoin. But Namecheap charges a 10% fee for domain marketplace sales. Namecheap does not charge a fee for cashing out, but they only offer Paypal for cashing out. No optional wires, ACH, nor check.

A reason to offer Bitcoin payment option is that sending Bitcoin to a bank account (so that it can spent with a credit card or wire transfer) incurs fees and hassle for the buyer. And banks are becoming suspicious of very large valued transactions and wires can even be returned or held up. This may become even worse as global debt crisis starts to cause failures of banking systems such as in Europe. Also there are foundations and businesses being run entirely on a Bitcoin wallet without a corporate bank account. Bitcoin's market cap is growing so fast that it will jump from $100 billion to $trillions in the next few years, so this will become an ever more important payment option.

PayPal supports such withdrawal only for small number of countries.

Also Paypal can freeze funds indefinitely and make you jump through hoops to provide them copies of utility bills, a DNA sample, etc..

You can cash out via bitcoin just for 2.5% fee.

Other than 2.5% there is no fee involved. Just got this info from Epik chat support.

Extra fees can be hidden in the exchange rate. The exchange rate of Bitcoin varies widely depending on which exchange is quoted.

Any way, if you want to invest your proceeds in Bitcoin then it being so volatile that a few percent here or there is not very relevant, because merely your timing of which day to convert can lead to larger discrepancies.

 

[Jurgen Wolf]

International wire disbursement at Epik = 5% + $40
This was answered directly by Epik via their LiveChat.

+ their hard minimum escrow fee is $75.
If the domain is with another registrar.
So their escrow is suitable only for their own domains.

 

[Jurgen Wolf]

Regarding BTC...
Never had any buyer who was ready to pay in Bitcoin, 0% per my own experience.

 

[bluemeteor]

I just given an example that there are cases where one need not pay PayPal fees on receiving funds.

How about afternic? Any paypal fee for receiving funds from afternic? Non-us account.

 

[jl777]

... unlike most of the others which charge a 3% fee for credit card purchases in addition to any escrow fee.

Forgot to link this reference:

https://domainnamewire.com/2014/01/21/domain-escrow-price-comparison/

Regarding BTC...
Never had any buyer who was ready to pay in Bitcoin, 0% per my own experience.

We're investing in doman names that crypto projects might want to purchase since this is a hot market that growing by a factor of ~10 every year. So within a few years the demand will be ~1000 times higher than it is now.

There are less expensive escrows if the seller is paying in Bitcoin and even they offer to set a price pegged to USD so seller can choose to receive USD:

http://escrowmybits.com/
https://escrowmybits.com/main.php?page=buyerorseller&escrowtype=fixed

There are other choices:

https://www.setescrow.com/
https://bitcointalk.org/index.php?topic=1710956.0
http://dn.domains/dn-domains-facilitates-bitcoin-escrow-domain-transactions-fees-low-0-5/
https://99bitcoins.com/looking-for-a-bitcoin-escrow-service-consider-this-first/

But the problem is that requires coordination and presuming that you already know your buyer definitely wants to pay in BTC. Whereas, Epik just makes it seamless and your domain can sit there in the marketplace then any buyer can pay with any payment method. For those with many domains to sell then this automation is probably worth the extra 3 – 4% as compared to the Bitcoin escrows linked above.

International wire disbursement at Epik = 5% + $40
This was answered directly by Epik via their LiveChat.

+ their hard minimum escrow fee is $75.
If the domain is with another registrar.
So their escrow is suitable only for their own domains.

Thank you for confirming.

And their transfer in prices are high, but they do mention they will negotiate bulk pricing for those who have many domains to transfer in.

 

[Jurgen Wolf]

NameSilo marketplace supports Bitcoin as well...
Epik is not alone in this niche.

 

[korganian]

Forgot to link this reference:

https://domainnamewire.com/2014/01/21/domain-escrow-price-comparison/



We're investing in doman names that crypto projects might want to purchase since this is a hot market that growing by a factor of ~10 every year. So within a few years the demand will be ~1000 times higher than it is now.

There are less expensive escrows if the seller is paying in Bitcoin and even they offer to set a price pegged to USD so seller can choose to receive USD:

http://escrowmybits.com/
https://escrowmybits.com/main.php?page=buyerorseller&escrowtype=fixed

There are other choices:

https://www.setescrow.com/
https://bitcointalk.org/index.php?topic=1710956.0
http://dn.domains/dn-domains-facilitates-bitcoin-escrow-domain-transactions-fees-low-0-5/
https://99bitcoins.com/looking-for-a-bitcoin-escrow-service-consider-this-first/

But the problem is that requires coordination and presuming that you already know your buyer definitely wants to pay in BTC. Whereas, Epik just makes it seamless and your domain can sit there in the marketplace then any buyer can pay with any payment method. For those with many domains to sell then this automation is probably worth the extra 3 – 4% as compared to the Bitcoin escrows linked above.



Thank you for confirming.

And their transfer in prices are high, but they do mention they will negotiate bulk pricing for those who have many domains to transfer in.

All you need to do is mention the "Namepros Special" to Epik to get all your .com domains priced at $8.49 for registrations, transfers and renewals.

 

[jl777]

If you put your domain in the marketplace on Epik, there is no escrow fee. The escrow is for those who have more complex needs such as domain swap, want a private sale with a specific buyer, do not want to transfer their domain into Epik before finding a buyer, etc..

NameSilo marketplace supports Bitcoin as well...
Epik is not alone in this niche.

Ah thanks. Yes I see their commission is 3 – 7.5% depending on buyer's payment method. I presume the 3% is for Bitcoin? Epik seems to be pricing their 5% withdrawal fee to recoup their costs on credit card transactions. But by not unbundling Bitcoin from credit card pricing, their fees for Bitcoin payment are presumably 2% higher than NameSilo but perhaps less for credit card.

They also offer wire to bank account. And their published registration, renewal, and transfer in fees are lower than those published by Epik. Epik states they will negotiate lower fees in bulk.

Anyone here have any experience selling in NameSilo's marketplace?

 

[Jurgen Wolf]

Anyone here have any experience selling in NameSilo's marketplace?

Use searchbox!

https://www.namepros.com/threads/epik-vs-namesilo.992686/

https://www.namepros.com/threads/new-namesilo-marketplace.892413/

etc.

 

[richtrading]

Escrow.com would charge us $126 for $2000 domain sale if buyer pays with Paypal or Credit card. That represents a 6.3% fee! I'll also get stung for the USD bank payout to our GBP account. Maybe another $20 fee for non GBP money, which would make it around 7.3% fees.

https://www.escrow.com/fee-calculator

Epik don't have a fee calculator..
So I asked the chat guy, no fees on sales, but:

The cashout fee is 5% for cashout to paypal, cc or bitcoins
Cashout for wire is 5%+ $50

So 1-2% better than Escrow.

 

[richtrading]

There is no escrow fee, using Epik. How much do you pay Sedo or Payoneer for their escrow service?

Sedo is a non-starter with us, but have plans to check out Payoneer soon

why no Sedo?

 

[richtrading]

no fees
no fees to transfer the money into my paypal
no fees to fund my epik account

easy - silently - uncomplicated

@robepik

Maybe I am misunderstanding something.
Frank, really no fees? epik just quoted me 5% paypal fee for payout. 20 Jul 2018. You're in Germany, I'm in UK, so we both have non-US status...

 

[frank-germany]

Maybe I am misunderstanding something.
Frank, really no fees? epik just quoted me 5% paypal fee for payout. 20 Jul 2018. You're in Germany, I'm in UK, so we both have non-US status...

sorry paypal fees apply
( about 4-5 %)

but if you use epik as registar
this money could be used for renewals w/o fees

 

[richtrading]

sorry paypal fees apply
( about 4-5 %)

but if you use epik as registar
this money could be used for renewals w/o fees

ok, yes that is what I thought.

yeah, $1,000,000 covers a lot of renewals :D hehe! I need my lambo

 

[richtrading]

sedo looked good, https://sedo.com/uk/services/domain-transfer/escrow/

Escrow on a $2000 USD sale it says "3.25% of the purchase price. Minimum 25 USD."

I read they charge 4.4% for paypal disbursement here https://escrow.domains/fees
heck! More than Escrow.com, but at least Paypal is included.