There are 2 services you'll need for a functioning website - a domain name and a web hosting plan for it. If you type the domain name in your web browser, you see the content that’s uploaded in the web hosting account, but if that domain isn't 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” Internet page from the registrar company, or it may be directed to any other URL of your choice. The advantage of parking a domain is that you can keep it and make sure that no one else is going to take it. At the same time, it's not going to block 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 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.