A custom domain tells visitors you are serious. Most platforms give you a subdomain like your-app.lovable.app while you build, but your own domain is what you share and link to.
The DNS setup is usually one CNAME record for the root and one for www, or an A record if the platform asks for it. After you add the record, wait for SSL to provision before changing any public links.
Test this
Open the domain in an incognito window, check the padlock icon is green, and test that the old platform subdomain redirects to the new domain.