A web hosting service is a type of Internet hosting service that allows individuals and organizations to make their own website accessible via the World Wide Web. Web hosts are companies that provide space on a server they own or lease for use by their clients as well as providing Internet connectivity, typically in a data center. (source:wikipedia) In basic terms -- Web hosting allows you to put your website(s) on the internet.
If you are interested in making money online, and you are serious about it - then you will one day have to deal with buying web hosting. Yes, there are some free options out there, but at some point you will max out those free options, and will need to turn to your own hosting.
Even if you donâ€™t want to make money, and are just an online hobbyist - web hosting is important. Owning your own web hosting gives you a freedom on the net, that no free options provide.
When I started working online, I got to the point where I needed to buy web hosting. The only problem is, it was like a different language for me. I had no idea what I was looking for.