There are 2 services you need for a functioning site - a domain name and a web hosting plan for it. If you type the domain address in your web browser, you see the content that is uploaded inside the web hosting account, but if that Internet domain is not linked to such an account or to an email service, it is parked. In other words, the Internet domain is registered and you're its owner, but it doesn't have any 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 address is that you can keep it and make sure that nobody else will take it. Meanwhile, it won't take a slot for a hosted domain name inside your account. You could also park domain names if you have a .com, for example, and you register domain addresses with other extensions like .net, .org or country-code ones to forward them to the main web site as a way to protect a brand name.