Why buy a lifetime domain but need a hosting site?

Hi guys. I am not computer smart. I bought a lifetime domain from a website for few hundred bucks for my business. I never used it to design a website, however the hosting was expiring so I transferred it to siteground to host it. it is now expiring even though I have no website displaying under it, does that mean after the hosting expires I will also lose the ownership of my domain? I do not understand this at all? why buy a lifetime domain but need a hosting site regardless if you have an active website or not?

 

You should have never transferred it out, as only that company would provide the renewal service.

 

so does that mean if I do not renew the hosting with siteground I lose the ownership of my domain completely and money wasted?

 

Your domain can be at a registry such as Epik. (Was it Epik that you bought it at? I know they have lifetime domains.)

Your hosting...who hosts the website can be at SiteGround while your domain is at Epik.

Did you actually transfer the domain from your registrar? (Where you bought the lifetime domain)

I am trying to understand the current situation.

No, you should not lose your domain, I would think. You may lose your website if you do not pay for hosting.

 

lifetime? tha's only marketing gimmick, you were only get lifetime domain if you were renewing the hosting service

 

Epik provides it. Im not exactly sure how it works, though.

 

Perhaps good to tag @Rob Monster so lifetime domain registration is explained.
As others have said hosting and domain registration are separate. You should not have transferred out your domain from where the lifetime is. Your hosting you can buy wherever you want, and just set the DNS for the domain according to where your hosting is. It sounds like you transferred the domain which I fear ends the lifetime registration, but will let Rob respond. It was at Epik?
I hope it works out for you.
Bob