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You can use their domain by proxy service.
Yes , they technically own the domain (the proxy service) but you can take it back with just a click.
I would suggest that you read the terms.
They have your credit card info and there can be some charges associated with their service that will be automatically charged to your card.
I suggest you read those terms and decide if that is something you are willing to agree to.
I have used it once and didn't have any problems myself but as i said read the terms.
And GODADDY will drop your domain if you use incorrect whois info. They will send you a notice by email if someone complains about incorrect whois info. And will drop the domain in 5 days if the info is not updated to be correct.
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