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A Cloud and a Dedicated server are quite different web hosting solutions in terms of setup and management.
A dedicated server gives you more freedom – you can order it with root access to your accounts and to cPanel’s WHM – Web Host Manager. From there you can create/remove/manage hosting accounts on the server yourself.
On a dedicated server you can also make global modifications to the server configuration. Furthermore, a dedicated server is more powerful than a Cloud and offers more resources for your site.
However, if your site’s resource needs cannot be met on a shared server but you don’t have enough funds for a dedicated server, the Cloud will also be a reasonable solution. It is easier to manage, you still have SSH access to your account and the resources will be dedicated solely to your website and the services it runs.