To have a website, you need both domain and hosting.

A domain name is your website name. A domain name is the address where Internet users can access your website. Your domain name gives people the way to find your website or simply domain name is the address of your website. The price of a domain name typically runs between $10-25 (US Dollar) per year.

While Web hosting is a space on a server (a remote computer) where all your website content resides. In a nutshell, web hosting is the process of renting or buying space to house a website on the World Wide Web. Website content such as HTML, CSS, and images has to be housed on a server to be viewable online. The price of hosting typically ranges between $3-25 (US Dollar) per month depending on different web hosting providers and your requirements.