If you wish to register a domain name to make certain that no one else is going to take it, however, you haven't created the website for it yet, you may park it. It's a feature that registrar companies offer if a domain name is not connected to any web or email hosting service. This way, you'll be able to protect a brand name, for instance, and you will own the domain name in question although it won't open any content. If you'd like, you can choose some standard template that the registrar provides, like For Sale or Under Construction, you can also direct the domain name to a different web address. Your second option is very useful if you own a number of domains, but you want all of them to open the same website. For example, you may register domain.net and domain.org, then park them and forward them to domain.com. In this example, you'll need hosting for the third domain address only and the traffic to the other ones will be redirected to it.