Registering a domain name and hosting one is usually mistaken by a lot of people to be the same thing. They are in fact 2 different services - the domain address registration is the actual name and nothing else, while the hosted domains feature refers to the number of already registered domains you can accommodate in the same website hosting account and have site data and email messages for them. Your sites will work in precisely the same way regardless if the domains are registered and hosted in one place or are registered with company A and directed to company B. Simply registering a domain name without hosting it will give you ownership, but will not enable you to have a web site if you don't host this domain name in some account so that records for it are set up and it starts opening the content from that account.