If you purchased new domain through blogger, your domain may be not activated for a while. You may meet these errors.
Error 1:
When you try to create an admin account, it will shows "Server error: We are unable to process your request at this time, please try again later."
Error 2:
When you goto purchased domain (URL),
It will shows "The requested URL / was not found on this server" [error 404]
Error 3:
When you type the purchased domain on blogger dashboard, it will shows "We have not been able to verify your authority to this domain".
It also asks you to add 2 CNAME records on Your domain.
To solve this issue, Do the methods which are explained in this video.
If you have any doubts, feel free to ask in comment section.