There are 2 services you'll need for a working website - a domain name plus a hosting plan for it. When you type the domain address in your Internet browser, you see the content that’s uploaded in the hosting account, but if that domain name isn't linked to such an account or to an e-mail service, it is parked. In other words, the domain address is registered and you are its owner, but it lacks 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 any other URL of your choice. The main advantage of parking a domain name is that you can keep it and make sure that no one else will take it. In the meantime, it's not going to block a slot for a hosted domain inside your account. You can also park domains if you have a .com, for instance, 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.