There are two separate services you need for a functioning website - a domain plus a web hosting plan for it. If you type the domain in your web browser, you see the content that is uploaded within the web hosting account, but if that domain name is not linked to such an account or to an email service, it is parked. Put simply, the domain is registered and you are its owner, but it does not have any 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 could be forwarded to any other URL of your choice. The benefit of parking a domain name is that you can keep it and make sure that no one else is going to take it. Meanwhile, it will not occupy a slot for a hosted domain inside your account. You could also park domains if you have a .com, for example, and you register domain names with other extensions such as .net, .org or country-code ones to forward them to the main website as a way to protect a brand name.