Parked domains are often used by businesses that want to have more than one web address for advertising purposes. Parked domains are additional domains hosted on your account which display the same website as your primary domain and share web statistics as well; however, you can give the parked domain its own email boxes.
For example, you have two domains mysite.com and my-other-site.com.
mysite.com is the domain of your website and you want to add my-other-site.com.
You want them both to go to the same place. In other words, when someone types either www.mysite.comor www.my-other-site.com they will go to the same page(s) on your website.
In order to have additional parked domains you need to purchase them from a registry.
How to park a domain :
First, login to your cPanel, click on the Parked Domains icon in the Domains section.
Once at the Parked Domains page, we’ll see the first section titled Create a New Parked Domain, this is where we will provide the details of the domain to be parked. In the entry box provided enter the domain name you would like to park on top of your domain name. Now simply click the Add Domain button.
You will now arrive at a confirmation page to let you know that the domain has been parked, remember though that by default cPanel has parked this domain onto your public_html folder of your main domain so it will show the content of that site. Now click the Go Back button to manage or add further parked domains.
How to remove a parked domain :
First, login to your cPanel, click on the Parked Domains icon in the Domains section.
Whilst at the Parked Domains page, we can manage any domains that we have already parked. The options are removal or manage redirection, both links are to the far right under the Actions column.
Removal is self explanatory and does exactly that – removes the parked domain.
An addon domain, on the other hand, is a domain that will display a completely different website. So, if you pay to be able to host an addon domain on your hosting account, you are basically being given permission to host another side in addition to your main website. For instance you have mycatsite.com but you also want to launch a sister site called mydogsite.com. You would do this using an addon domain. It is important to note that buying addon domain or parked domain rights from your hosting provider doesnt actually give you a domain name, it just give you the ability to add that domain to your account. You will still have to pay for the domain name too.