There are two separate services you'll need for a working site - a domain plus a hosting plan for it. Any time you type the domain address in your Internet browser, you see the content that is uploaded inside the web hosting account, but if that Internet domain isn't linked to such an account or to an e-mail service, it's parked. Put simply, the domain name is registered and you are its owner, but it doesn't have any content of its own. Instead, it can open either a pre-made “Under Construction / For Sale” page from the registrar company, or it may be directed to any other URL of your choice. The main advantage of parking a domain is that you can keep it and make sure that nobody else is going to take it. Meanwhile, it won't occupy a slot for a hosted Internet domain inside your account. You may also park domains if you have a .com, for example, and you register domain addresses with other extensions such as .net, .org or country-code ones to forward them to the main website in order to protect a brand name.