There are two services you'll need for a working web site - a domain name plus a hosting plan for it. When you type the domain in your browser, you see the content that is uploaded in the hosting account, but if that domain name isn't linked to such an account or to an e-mail service, it's parked. In other words, 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 directed to some other URL of your choice. The main benefit of parking a domain name is that you can keep it and ensure that no one else will take it. Meanwhile, it's not going to take a slot for a hosted Internet domain within your account. You could also park domains if you have a .com, for example, and you register domains with other extensions such as .net, .org or country-code ones to forward them to the main site in order to protect a brand name.