But what does this actually mean?
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In order to point your website to BigScoots and to allow us to easily manage your website, it is best to allow us to handle your DNS. This will require updating your domains nameservers.  

To speak plainly, your nameservers are basically a way of telling your domain where on the internet your website resides so when people browse to your website, it loads from the location set in your nameservers.

This will require you(or us if you choose) to change the nameservers on your domain which are provided to you when completing the steps in https://wpo.bigscoots.com/ while adding your new domain.