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Bumping your domain to 10 years can help search rank as well.

I'm really curious on this one (that I heard quite a few times): did you saw a real effect yourself or on known sites ?

"Google’s patent “Information Retrieval Based on Historical Data” of 03/31/2005 reviewed by WebmasterWorld forum hugely accounted for these rumors implying that Google does look into domain registration (1) and renewal (2) dates:

(1) … the date that a domain with which a document is registered may be used as an indication of the inception date of the document.

(2) Certain signals may be used to distinguish between illegitimate and legitimate domains. … Valuable (legitimate) domains are often paid for several years in advance, while doorway (illegitimate) domains rarely are used for more than a year. Therefore, the date when a domain expires in the future can be used as a factor in predicting the legitimacy of a domain and, thus, the documents associated therewith."

Source: http://www.searchenginejournal.com/domain-age-how-important-...

From the horse's mouth: http://www.youtube.com/watch?v=Y1_1NQWQJ2Q

Matt doesn't say it's not part of the algorithm but he gives the idea it's not that important.

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