Simply described, one can say that a domain is a website name, an address to which only a specific website can belong. For example, svt.se is a domain. There is only one website with that name, and the company SVT owns the rights to the domain. If you, as a private person or company, want to set up a website on the internet, you need to own the rights to the name you have planned to host the website through.
There are many different websites online that offer you to buy names of domains of different kinds. The most common domain names are also the most expensive to buy. For example, a .se domain can cost over SEK 100, while a .eu domain might cost SEK 10.
Since it is very valuable to have a good name on their website, a market has grown up where people buy and sell domain names. If you manage to buy the rights to a name that you think will be popular in the future, for example as a title for a project or similar, then you can then sell it for big money. Let’s say you owned the “icloud.com” domain before Apple decided to release that service. Then you would then have had the opportunity to make big money when Apple would buy a website to launch the project.
Domain names are a fundamental factor when it comes to creating and maintaining websites. They are available in all price ranges, and in a variety of variants. They can be purchased through many different service providers on the internet. The same companies that mediate domains often provide other services, enabling you to set up your own website. For example, these can be web hosting, something that you can find very cheap if you are lucky. They often offer different packages that can help you design your website, which may be necessary if you are not experienced in programming