What is a Geostationary Satellite?

There is a location in space where you can place a satellite in orbit so that from the ground, the satellite appears stationary. What is happening is that the satellite is actually orbiting the Earth at the same speed the Earth is rotating. The satellite makes a complete orbit around the Earth in 24 hours, or exactly one day. Geostationary satellites are only located at 22,300 miles directly above the Earth's equator and nowhere else.