What is domain kiting?

Domain kiting is the process of registering a domain to test it for monetization purposes and then, if it doesn't generate advertising revenue, cancelling it within the five-day grace period for a full refund. Typically, registrants register recently expired domains that may still receive traffic from search engines and other visitors. If the domain has the potential to earn enough money to exceed the cost of registration, the registrant keeps the domain. If the domain does not have the potential to earn enough money to exceed the cost of registration, the registrant cancels the domain for a full refund.