I will put forward some inputs form my ends
Domain is an easy to use name or identity. ICAAN accredited registrars can lease or rent the domain to customers for specific time period. Remember both domains and hosting are leased, as a customer. you do not own them for lifetime.
Both of them have a time frame, which is determined by hosting company and domain registrar.
Next coming to you queries.
I am using my domains and hosting on different companies and is this the way you are using for your domain names?
You are free to choose who will be your domain registrar and who will be your hosting. There is no mandatory requirement as such that you must buy hosting from domain registrar or get domains from hosting company. There is no such thing.
A user is free to choose how he / she can use and setup things. Again, everyone follows a method that they like. If you want my feedback, I buy domains at namesilo and host on my servers.
We let the customers buy domians from their choice of registrar and we just sell hosting, of course it just the way how we do business. I am just giving you an idea that it is personal preference.
Should I host domain names and hosting from a company? which one is better? why? any further recommendations welcome!
Again, its a personal preference. But, if you ask recommendation from me. I would say keep the domain registrations and host isolated. Isolated in the sense. Choose different providers, I am not against any hosting company or anyone. But, I have seen some hosting companies locking the user, if they think of leaving the hosting company due to some issues and domains are also purchased from them.
In worse cases, I have seen some people charging fee or charges for removing lock to transfer domains to other registrars. After seeing such cases. I can recommend that keep the domain registrar and hosting different.
After all configuring nameservers and other dns records takes just few minutes and it does not make any sense that having both domains and hosting with same company gives some advantage, in general.
Also, most of the hosting companies are resellers of domains, most in the sense majority of them. So eventually you are registering domains with same parent company. There is a case when buying domain names from hosting company makes sense, that is when you wanted the hosting company to manage everything for you.
It is a rare case, to get such services. So In short, keeping domain company and hosting company different is much better from different points of view. Its a personal preference of user. And this is said here because you wanted to recommendation, some people may not agree and some may agree. But I am leaving it to users perference.
hope this gave you more clarity. Thanks.