If you wish to register a domain to ensure that nobody else is going to take it, however, you have not created the website for it yet, you can park it. That is a service that registrar companies provide when a domain name is not connected to any web or e-mail hosting service. This way, you can protect a brand name, for example, and you will own the domain in question although it won't load any content. If you want, you can choose some default template that the registrar provides, like For Sale or Under Construction, alternatively you can direct the domain name to a different web address. Your second option is extremely helpful if you own a few domain names, but you want all of them to open the same site. As an example, you could register domain.net and domain.org, then park them and forward them to domain.com. In this example, you will need hosting for the third domain only and the traffic to the other ones will be redirected to it.