These VPS configurations may vary from person to person based on their personal preference but these are what I found to be optimal for hosting Freqtrade (and only Freqtrade)
For choosing a VPS provider , instead of going for the cheapest solution which gives the best bang for the buck (eg: Contabo) , I chose to go with something which is stable and an overall good performance and reviews (quality > quantity) , Since each Freqtrade instance only uses a single core getting a large tier VPS is wasteful , the primary focus was on how fast things were instead of more storage and RAM therefore . I chose Vultr (additional plus point is that Vultr offers payments in crypto BCH or BTC ) and its High Frequency Compute Engine for Live Runs (the 6 dollar one | If you are hosting multiple bots , its recommended that u get each one of them a separate instance ) . For Dry Runs , The Free Tier of Oracle is good (its free for life time and its better than the free AWS servers)
First we need to sign up for Vultr and by using a referral code you can get additional free credits
This site has a nice collection of promo codes : https://www.newcoupons.info/vultr-coupon-codes/ , make sure you chose something which has a longer validity and gets you the best bang for the buck .
(Note : I could give you my referral code here but that wont benefit you much , so I decided to not take up any commission with this , so yeah please do consider some tips :D If you would still like to support me with the referral here you go , charge your account with 25 usd and you should get 100 usd credit with this : https://www.vultr.com/?ref=8904923-6G )
After signing up and linking your credit card / paypal you will get your free credits , after that optionally you can fill your personal details
Next choose to deploy the $6 High Frequency Compute Engine https://my.vultr.com/deploy/?highfrequency
For you Configurations : Choose a Debian Server x64 , For Binance users tokyo is the best location for reduced latency (but this might change in the near future after something between japan regulators and Binance) , Name your server anything(this is not changeable) , the label(this can be changed later) is what you see on your dashboard to distinguish it from other instances you have . I also prefer to tag them under freqtrade , this can be done in the dashboard after you deploy the server .
From your Vultr Instance Dashboard , get your IP address noted down
Next Sign Up for YDNS (its a free domain provider that I have used for a while) : https://ydns.io/
After verification and login create a new host and name it something like vio-freq and give the IP address noted down earlier
Note down the newly generated domain address (it will be something like vio-freq.ydns.eu)