What is a Domain?

In order to have a website online you need:

The Hosting is connected to your domain via nameservers. Nameservers are ways to identify a server i.e. the location where your site is "saved". Your domain can be registered with a different provider than your hosting.

Example by Analogy: 

Domain > Hosting/Server IP > Website
i.e. We have a domain > The Files and Databases are at this IP Address > Show the Site

Street Name > House/Address > You
i.e. Your Street Name > All your things are in this home at this Address > Show The House

Related: Transferring Ownership of a Domain.

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