There are 2 services you need for a functioning website - a domain plus a hosting plan for it. If you type the domain in your Internet browser, you see the content that is uploaded within the website hosting account, but if that Internet domain isn't linked to such an account or to an e-mail service, it is parked. To put it differently, the Internet domain is registered and you are its owner, but it does not have any content of its own. Rather, it can open either a pre-made “Under Construction / For Sale” Internet page from the registrar company, or it could be forwarded to some other URL of your choice. The main benefit of parking a domain address is that you can keep it and make sure that nobody else is going to take it. Meanwhile, it won't take a slot for a hosted domain inside your account. You can also park domain names if you have a .com, for example, and you register domain names with other extensions such as .net, .org or country-code ones to direct them to the main website as a way to protect a brand name.