I’d personally recommend using shared hosting and storing the files on a separate VPS. Not only does this give you a layer of redundancy but it will keep the bandwidth lower on the shared account. The only thing to keep in mind when you order your VPS is to ensure that the I/O speeds are good (especially if you’ll be doing large downloads), so you won’t have I/O wait time. This can really slow down your site & hinder performance. It’s most common among low end VPS boxes.

You might be okay running the shared hosting off the VPS box, but it would honestly be better to run the shared hosting off a shared host. That way, you’ve got support and access to cPanel, so you won’t be doing everything through command line.

Another benefit to separating the two is a very little bit of redundancy. If your shared site goes down, the VPS can still serve the media files (assuming that they’re embedded elsewhere). Don’t confuse this with load balancing or anything — it’s just a small side perk.

Hope this helps

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