There are two separate services you'll need for a working site - a domain name plus a web hosting plan for it. Any time you type the domain name in your Internet browser, you see the content that is uploaded inside the website hosting account, but if that domain address is not linked to such an account or to an e-mail service, it's parked. To put it differently, the domain name is registered and you are its owner, but it does not have any content of its own. Rather, it can open either a pre-made “Under Construction / For Sale” page from the registrar company, or it may be directed to some other URL of your choice. The advantage of parking a domain is that you can keep it and make sure that no one else will take it. Meanwhile, it will not occupy a slot for a hosted domain within your account. In addition, you can park domain names if you have a .com, for instance, and you register domain names with other extensions such as .net, .org or country-code ones to direct them to the main website in order to protect a brand name.