There are two separate services that you need for a working site - a domain name plus a hosting plan for it. Whenever you type the domain in your browser, you see the content that’s uploaded within the hosting account, but if that domain address isn't linked to such an account or to an email service, it is parked. To put it differently, the Internet domain is registered and you are its owner, but it doesn't have any content of its own. Instead, it can open either a pre-made “Under Construction / For Sale” Internet page from the registrar company, or it could be directed to some other URL of your choice. The benefit of parking a domain address is that you can keep it and ensure that nobody else will take it. At the same time, it's not going to take a slot for a hosted Internet domain inside your account. You can also park domain names if you have a .com, for instance, and you register domain addresses with other extensions like .net, .org or country-code ones to direct them to the main website in order to protect a brand name.