There are two separate services that you need for a working site - a domain and a web hosting plan for it. Whenever you type the Internet domain in your web browser, you see the content that’s uploaded inside the website hosting account, but if that domain address isn't linked to such an account or to an email service, it is parked. In other words, the domain is registered and you are its owner, but it lacks content of its own. Instead, it can open either a pre-made “Under Construction / For Sale” page from the registrar company, or it can be directed to any other URL of your choice. The benefit of parking a domain name is that you can keep it and ensure that no one else is going to take it. At the same time, it will not occupy a slot for a hosted domain name in your account. You could also park domains if you have a .com, for example, and you register domains with other extensions like .net, .org or country-code ones to forward them to the main website as a way to protect a brand name.