Welcome to WebmasterWorld Guest from 54.81.116.187
...nope, it does not need to be hosted, it just needs to have DNS servers listed. I tried a new registrar a few days ago and registered six domains, you can assign them the Public DNS servers at [granitecanyon.com...] , I only have some idea of what to do with two of them, so the other four can sit and "park" for free :)