Parked Domains means Different Domains Pointing To A Single Website : Let’s say you own abc.com, but you also own abc.net, abc.biz, etc.
You want these domains to also point to your same abc.com site so you “Park(Alias)” them to your primary site.
Another classic example for Domain Parking is if you owned one domain such as mycompany.com but for marketing purposes also used other domains like accountingservices.com or autodetailing.com, etc. There’s many good reasons for using multiple domains with a single account which is why we’ve made it standard on all of our accounts.
Yes, the domain needs to be registered to have it used as parked domain.