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Pointing one domain to another domain is called Domain Parking. Both Parked domain and Main domain will display the same website. Parked domain cannot have separate web statistics, but it can have its own email boxes.
For e.g. yourdomain.com -> mydomain.com i.e. yourdomain.com and mydomain.com will open same website. The main domain mydomain.com will need both web hosting and domain registration. Whereas, parked domain yourdomain.com will only need domain registration.
In addition to this, nameservers (DNS) for both domains must be same. This is very important unless, parked domain will not work.
Regards,
Parked Domain
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