Only one unique Domain Name is allowed world wide. InterNIC charges fifty dollars per year for Domain Name registration with the first two years due upon initial registration. When you register your Domain Name, you will need to tell InterNIC which site, or IP address , to assign to the Domain Name. Hence, you should already have a site before requesting a Domain Name. Domain Names should be meaningful and not too long.
Cryptic names are hard to remember.
Longer names are hard to type without misspellings. However, a longer meaningful name is better because very seldom does your visitor have to type in the name. Normally, they will arrive at your site via another link or by selecting a bookmark . This is a faster method to send printed material. However, this method has many drawbacks.