There are two separate services you need for a working site - a domain plus a website hosting plan for it. Whenever you type the domain address in your Internet browser, you see the content that’s uploaded within the website hosting account, but if that domain is not linked to such an account or to an email service, it's parked. To put it differently, the domain name is registered and you're 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 address is that you can keep it and make sure that nobody else will take it. Meanwhile, it won't block a slot for a hosted Internet domain in your account. You may also park domains if you have a .com, for example, and you register domain names with other extensions such as .net, .org or country-code ones to forward them to the main site so as to protect a brand name.