How / where to host a domain after buying it?

Can someone explain what buying a domain really is? For example if I buy ""

How would I be able to build a website for it (like you can do in squarespace, shopify, wordpress, etc) without coding from scratch?

Where to buy hosting for a good price?

Sorry if these are "beginner" questions, have searched for a while but found nothing clear

submitted by /u/JackDaniel215
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