There are two separate services you need for a functioning website - a domain and a hosting plan for it. If you type the domain name in your Internet browser, you see the content that’s uploaded inside the hosting account, but if that domain address is not linked to such an account or to an email service, it's parked. In other words, the domain name is registered and you are its owner, but it lacks content of its own. As a substitute, it can open either a pre-made “Under Construction / For Sale” webpage from the registrar company, or it may be directed to any other URL of your choice. The benefit of parking a domain name is that you can keep it and make sure that nobody else is going to take it. In the meantime, it will not occupy a slot for a hosted domain address in your account. You may 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 website in order to protect a brand name.