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A VPS hosting account is less expensive than a full dedicated hosting plan that uses a physical server.
Many VPS plans can be customized to meet your needs so you pay for what you want but you do not need to deal with any features you will never need.
Many VPS hosting plans are easily scalable. You can start off in your virtual environment with the minimum amount of resources you need and then as you grow gradually increase your hosting plan to accommodate your needs. You do not have to pay for excessive resources you have not yet grown into.
You have a lot more control over your virtual server than you do with shared hosting. You will likely have root access and the ability to use scripts that may not be allowed in the shared hosting environment.
You have the same technical support as with shared hosting for most issues.
You can choose from semi managed hosting where the web host handles some maintenance and fully managed services.
VPS hosting is a great bridge between shared hosting and dedicated hosting. It s main advantage is the ability to have complete control over the hosting environment as you would get in a dedicated hosting package but without the cost. There are a few issues you may encounter if the host does not handle VPS correctly but if they do and you can afford the slightly higher price, it is a great option.