There are two services you need for a working site - a domain plus a hosting plan for it. Whenever you type the domain address in your browser, you see the content that is uploaded in the web hosting account, but if that Internet domain is not linked to such an account or to an email service, it is parked. Put simply, the domain address is registered and you're its owner, but it does not have any content of its own. Instead, it can open either a pre-made “Under Construction / For Sale” webpage from the registrar company, or it may be forwarded to some other URL of your choice. The main advantage of parking a domain is that you can keep it and ensure that no one else is going to take it. Meanwhile, it's not going to occupy a slot for a hosted domain name within your account. You may also park domain names if you have a .com, for instance, and you register domains with other extensions like .net, .org or country-code ones to direct them to the main site as a way to protect a brand name.