Bluehost is a web hosting provider that offers shared, reseller, VPS, and dedicated server hosting plans. The pros of using Bluehost include speed and performance, high uptime, affordable shared hosting plans starting at $2.75/month (though renewal rates are $7.99/month), excellent security features, and friendly customer support. However, the cheapest shared hosting plan has restrictions like limited storage and only allowing one website, and renewal rates are higher than the initial monthly rate.