For DNS ( Domain Nameserver) Update
When you update the name servers for your domain name, you instruct the DNS servers on the internet to point the traffic for your domain name to our DNS (or "name servers"), which are:
Nameserver 1: dns1.mschosting.com
Nameserver 2: dns2.mschosting.com
You may obtain the DNS from your hosting provider.
Your website or email services will be having downtime after the DNS is updated. Normally it will take 18 to 72 hours of domain propagation period before your domain name will be fully resolved to the new server.
Therefore, it is advisable to perform the domain DNS update during the off peak hours.
For Domain Transfer
First off, when you use this term it usually refers to a Domain Registrar transfer. A domain registrar transfer happens when you transfer your domain from one domain registrar to another. For example, transfer your domain from GoDaddy.com to Enom.com. The new registrar takes over management and billing for your domain.
For Exabytes, you will noticed that you transfer the domain name to Tucows instead of Exabytes.
No worries! Tucows is our domain registrar and this is the reason of seeing Tucows as the gaining registrar.
However, before you transfer the domain name over, there is something that you need to aware of.
You may refer to this URL for more details on the domain transfer:
Transfer Domain to Exabytes