Domain name registrars, in case you didn't know, are the companies that manage all the website domain names you'll see (EG: Inc.com) - the fingerprint of your business, which may also include the hosting and privacy measures. For example, by default many companies will actually over-price the simple process of keeping your registration information private (which if it isn't can be found via a simple Whois search).
The first step to starting your website is registering your domain name. Think of your domain name as a street address for your website. Without a domain name, you would have to tell customers to visit your website at a temporary url such as 188.8.131.52/~yourwebsite instead of yourwebsite.com. Get your own domain name to lend your site a professional look and establish your online brand!
Domain name registrations are priced on a subscription-like model that allows a person or business to register that domain name for a certain period of time (usually in annual increments). At the end of the registration period, you (the domain name registrant) have the option to renew the domain name registration for an additional period of time, or let it expire. It is important to renew your domain name registration, or you may find that all of your work building traffic and views to your site ends up benefiting someone else (in the instance that someone else registers your domain name after you let your registration expire), and potentially costing you more in rebranding.
Domain names are often seen in analogy to real estate in that domain names are foundations on which a website can be built, and the highest quality domain names, like sought-after real estate, tend to carry significant value, usually due to their online brand-building potential, use in advertising, search engine optimization, and many other criteria.
Here, we need to understand what a website accomplishes and how it boosts your prospects of an effective business. You get a fully cleared domain name from the registrar. They will issue a “universal resource locator,” which is the link you have directing you to your website. This makes your domain important and uniquely yours. What you get with a network domain is your dedicated spot/business/store on the internet.
SnapNames is a web domain name marketplace - meaning that they only deal specifically with domains that are currently owned by somebody else. They offer daily and premium auctions, private brokerage of domains, and buy-it-now listings for buying and selling domain names, including over 30 million domain names that aren't all, as you'll find on some services, exorbitant. They have over three million customers, including a significant number of small businesses, which is worth it.
Getting a domain name involves registering the name you want with an organisation called ICANN through a domain name registrar. For example, if you choose a name like "example.com", you will have to go to a registrar, pay a registration fee that costs around US$10 to US$35 for that name. That will give you the right to the name for a year, and you will have to renew it annually for (usually) the same amount per annum.
In order to register any domain, you must provide certain personal information that you may not wish to be publically searchable in the Whois database. Signing up for WhoisGuard is a great way to keep your registration data private. WhoisGuard acts as a "shield" for your searchable information, displaying the address, phone number, and email of the domain registrar (Namecheap, e.g.) instead of your own. Keep in mind that WhoisGuard is an optional security add-on that must be renewed separately when you renew your domain.