Why it matters
Your registrar is where your domain lives day to day. GoDaddy, Namecheap and Cloudflare are examples. An ICANN-accredited registrar has signed a contract with ICANN. When you sell a domain, the sale ends with a move from your registrar to the buyer's account or registrar. A common mistake is losing access to the registrar account, such as an old email address. Without that access you cannot prove control or complete a sale.
Source: icann.org
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