A wildcard certificate is a public key certificate with which you can secure multiple subdomains.[1]
Depending on the number of subdomains an advantage could be that it saves money and also could be more convenient.
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Only a single level of subdomain matching is supported.[2]
It is not possible to get a wildcard for an Extended Validation Certificate.[3] A workaround could be to add every virtual host name in the subjectAltName extension.[4] The major problem being that the certificate needs to be reissued whenever a new virtual server is added. Thus all certificates need to be replaced every time.[5]
An example of the use of a *.company.com wildcard could be:
payment.company.com, contact.company.com, subscribe.company.com, login.company.com, etc.
But in order to secure fourth.payment.company.com you will need another (wildcard) certificate.[6]