There are two separate services that you need for a working web site - a domain name and a website hosting plan for it. Whenever you type the domain in your Internet browser, you see the content that’s uploaded inside the hosting account, but if that domain name isn't linked to such an account or to an email service, it is parked. To put it differently, the domain is registered and you're its owner, but it doesn't have any content of its own. Rather, it can open either a pre-made “Under Construction / For Sale” page from the registrar company, or it may be directed to some other URL of your choice. The benefit of parking a domain is that you can keep it and make certain that nobody else is going to take it. At the same time, it's not going to occupy a slot for a hosted domain name within your account. You could also park domains if you have a .com, for example, and you register domain addresses 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.