There are two separate services that you’ll need for a functioning website - a domain and a hosting plan for it. If you type the domain name in your web browser, you see the content that is uploaded within the hosting account, but if that domain is not linked to such an account or to an e-mail service, it's parked. To put it differently, the domain name is registered and you are its owner, but it doesn't have any content of its own. Rather, it can open either a pre-made “Under Construction / For Sale” page from the registrar company, or it can be forwarded to any other URL of your choice. The advantage of parking a domain address is that you can keep it and make certain that nobody else will take it. At the same time, it won't occupy a slot for a hosted domain address inside your account. You may also park domain names 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 as a way to protect a brand name.