A domain name transfer refers to a change of ownership of a domain name. Some of the reasons to transfer a domain are:
1. You have just sold or purchased that domain.
2. You are dissatisfied with your current registrar.
3. You need to renew a domain.
Sometimes it is cheaper to renew a domain name by paying for a transfer, then by paying the renewal fee. For example, GoDaddy domain transfers cost around $7 and include a 1 year domain
renewal. If your domain is registered with Moniker where renewals cost $10, it is cheaper to transfer to Godaddy and get the inclusive 1 year extension. You will save $3. A $3 saving per domain renewal equates to a lot of cash, especially if you own hundreds of domains.