I was looking to buy a custom domain name for a blog that I had monetized on blogger but I didn't want to make the switch because I thought I would lose my PR and back links. Not that I have such a high PR or many back links but I really didn't want to start over. Then I found out that you could buy a custom domain name for $10.00 per year through blogger and have it redirect to your blogspot blog. The URL looks more professional. The original blogspot URL will continue to work too and automatically switch to the new URL which will mean back links will still remain intact. I found out my PR did drop to zero though, which was a bummer and will take a certain amount of time to get that back.
At least that is how I understand it. It definitely gets confusing at times but we will see how this goes. The idea of having to start all over with a new blog, custom domain name,hosted on another site, I just can't do that right now. I am in the middle of a house remodeling job and I really need to spend my time on that.
$55.50 earned- Cashcrate