You can actually use your domain name without having to wait on a transfer. You would need to change the name servers to point to our hosting servers, though. The article below explains the necessary change and how to make the name server change.
Domain Name Server change versus Domain transfer
If you're going to use Wordpress, be advised that you would need to use a different URL if you can't use the main URL. This article explains how this works:
Using the Temp URL for Wordpress
If you have any further questions, please contact technical support or leave a comment at the bottom of the page.
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