There are 2 services you'll need for a working site - a domain plus a website hosting plan for it. Any time you type the domain address in your web browser, you see the content that’s uploaded in the web hosting account, but if that domain name is not linked to such an account or to an email service, it's parked. Put simply, the domain address is registered and you are its owner, but it doesn't have any content of its own. As a substitute, it can open either a pre-made “Under Construction / For Sale” webpage from the registrar company, or it can be directed to some other URL of your choice. The main benefit of parking a domain is that you can keep it and ensure that nobody else is going to take it. Meanwhile, it will not occupy a slot for a hosted domain address inside your account. In addition, you can park domains if you have a .com, for example, and you register domain names with other extensions like .net, .org or country-code ones to forward them to the main website in order to protect a brand name.