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How to change domain extension

Joined
Sep 22, 2015
Likes
12
Location
Nepal
#1
I have a xyz domain. I bough xyz because it cost me only $1. The renewal charge is $10. If I have to pay a high fee for the renewal charge, I would prefer top level domain instead of xyz, which is relatively unknown. My question, is how do I change the extension. Do I have to register a domain with the extension of my choice?
 
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