When some one else has already registered the domain name that you want, you may want to insert hyphens into your domain name. Often the name already taken is available with hyphens. As I've noted before, the conventional wisdom frowns on hyphenated domain names. The bulk of that conventional wisdom appears oriented towards the problems searchers might have in guessing your domain. They're correct to some extent.
There's another reason to avoid hyphens in whatever you've selected. Google suspects that any name with more than one hyphen is a spam domain. And if Google suspects that your site is a spam domain, it will adversely affect how Google indexes and ranks your site.
If you put only one hyphen in the name, Google won't discriminate, but searchers will have an even more difficult time remembering. "Thisismydomain.com" is much easier to remember than "This-ismydomain.com."
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