There are two separate services that you’ll need for a working site - a domain and 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 is parked. In other words, the domain is registered and you're its owner, but it does not have any content of its own. Rather, it can open either a pre-made “Under Construction / For Sale” Internet page from the registrar company, or it may be directed to some other URL of your choice. The benefit of parking a domain is that you can keep it and ensure that nobody else will take it. In the meantime, it's not going to occupy a slot for a hosted domain name within your account. You could also park domain names if you have a .com, for example, and you register domain names with other extensions such as .net, .org or country-code ones to direct them to the main web site in order to protect a brand name.