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It can never be stressed to highly enough that nowadays, cheap web hosting plans does not necessarily mean poor quality and service.
Check on the disk space allocation, bandwidth, security features, traffic flow, e-mail storage capacity, and the kind of multiple domain accounts.
Try narrowing your list of options by looking at the cheapest web host package that can meet your needs at the same time.
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If someone does manage to hack their network and servers, what is their guarantee of being able to restore your data? What measures do they have...
Are there limitations to the types of software that you can run or install?