There are 2 services you'll need for a working website - a domain and a website hosting plan for it. Whenever you type the Internet domain in your web browser, you see the content that is uploaded inside the hosting account, but if that Internet 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 are its owner, but it lacks content of its own. Rather, it can open either a pre-made “Under Construction / For Sale” webpage from the registrar company, or it may be forwarded to any other URL of your choice. The main advantage of parking a domain address is that you can keep it and make certain that no one else will take it. In the meantime, it's not going to take a slot for a hosted domain address inside your account. You can also park domain names if you have a .com, for instance, and you register domain addresses 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.