If you want to register a domain name to ensure that no one else will take it, but you haven't built the website for it yet, you may park it. This is a service that registrar companies offer when a domain is not linked to any web or e mail hosting service. That way, you are able to protect a brand name, for example, and you will own the domain address in question even though it will not open any content. If you wish, you can choose some default template that the registrar provides, like For Sale or Under Construction, or you can direct the domain name to another web address. Your second option is very helpful in case you own a few domain names, but you want every one of them to open the same site. As an example, you may register domain.net and domain.org, then park them and direct them to domain.com. In this example, you are going to need hosting for the third domain address only and the traffic to the other ones will be redirected to it.