There are 2 services that you need for a working web site - a domain name plus a hosting plan for it. Any time you type the domain name in your web browser, you see the content that’s uploaded in the web hosting account, but if that Internet domain isn't linked to such an account or to an email service, it's parked. To put it differently, the domain address is registered and you are its owner, but it doesn't have any content of its own. Instead, it can open either a pre-made “Under Construction / For Sale” page from the registrar company, or it may be directed to any other URL of your choice. The main benefit of parking a domain is that you can keep it and make certain that nobody else will take it. In the meantime, it's not going to take a slot for a hosted domain name within your account. You could also park domain names if you have a .com, for instance, and you register domains with other extensions like .net, .org or country-code ones to forward them to the main web site as a way to protect a brand name.