Registering a domain and hosting one is often mistaken by a lot of people to be the same thing. These are in fact two different services - the domain name registration is the actual name and nothing more, while the hosted domains feature reveals the amount of already registered domain names that one could accommodate in the same hosting account and have site files and e-mails for them. Your websites will function 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 without hosting it will grant you ownership, but will not enable you to have a web site unless you host this domain address in some account so that records for it are created and it starts opening the data from that account.