1. Purchase a Domain Name
You need to purchase a domain name before you create a site. This is how you create your online presence. You cannot create your own youtube website for free or use any of the free providers because they won't give you access to upload or install files. The free sites are basically for simple sites, creating blogs or fully paid ones. At any rate, for this purpose, you will need to first purchase your domain name.
If you know the niche of your video sharing site, you can search on Godaddy if the domain name is available. The more popular dot com domain names are most likely unavailable or need to pay premium prices for them. Here are some tips you can use to give yourself more options when you search for an available domain name for yourself:
The best place to purchase a domain name is from Godaddy. I purchase all my domain names from there. You can easily manage your domain names and they have great support. If the domain name you choose initially isn't available, they also give you a list of available domain names that are similar to the one you searched for so you can easily pick a different name or give you ideas for a better name.
Click here to visit Godaddy and search to see if you domain name is still available.