When temperature drops and water turns to ice, that's when things get freezing. This word can also describe something that feels very cold.
You might hear someone say "It's freezing outside" to complain about how chilly it is, or maybe they'll say "This soup is freezing" if it's been left in the fridge too long and become icy solid. That's a pretty common use of the word - describing a feeling of coldness that can be uncomfortable. Sometimes people also use "freezing" to mean that something is extremely slow or stuck, like when you're waiting for a computer to load a big file. In this case, it doesn't have anything to do with temperature at all, but rather the idea of being still and not moving.
(literally) Suffering or causing frost.
