Every Blogger wants his blog to look more professional by having a domain name rather than a subdomain like (username.wordpress.com) and that was the main reason why I moved to a self hosted platform. Folk at WordPress.com realized this need and now they give you a option to choose your own domain name.
Simply go to Options > Domains in your WP Admin Panel and enter your domain name in the box. If you registering a new domain, they charge you 15$ per year (all inclusive), else if you already own a domain name, you can map it for 10$ per year and update your nameservers.
Any visitors to your blog’s old URL will be automatically redirected to its appropriate new URL. If you don’t like the domain name, you can always revert back to your same old subdomain. Pricing seems to be pretty reasonable to me. What’s your opinion ?
Although I don’t have a blog at WordPress.com, I really welcome this new feature and I hope WordPress.com allows bloggers to place ads on their blogs in future (Consider this as my Wishlist)