What is a Parked Domain? So you registered the perfect domain name… but now you don’t know what to do with it or you don’t have a site to match. If you don’t want to spend the money to host your domain on its own IP address, you can “park” it on an already functioning domain’s IP address. How Does It Work? A parked domain is a registered domain name that you have placed on the same IP address as another domain. For those of you familiar with IP hosting, this may sound very similar to sharing an IP address….