There are two separate services you'll need for a working website - a domain name plus a web hosting plan for it. Whenever you type the Internet domain in your Internet browser, you see the content that is uploaded in the website hosting account, but if that domain name is not linked to such an account or to an e-mail service, it is parked. In other words, the domain address is registered and you're its owner, but it does not have any content of its own. Rather, it can open either a pre-made “Under Construction / For Sale” Internet page from the registrar company, or it can be forwarded to any other URL of your choice. The advantage of parking a domain name is that you can keep it and make sure that nobody else will take it. Meanwhile, it will not block a slot for a hosted domain name inside your account. You could also park domain names if you have a .com, for instance, and you register domain addresses with other extensions like .net, .org or country-code ones to direct them to the main site as a way to protect a brand name.