While shared hosting is cheap, I wouldn't recommend it to anyone for Yii hosting. Shared hosting has obvious serious downsides, like performance and security. A better alternative is a VPS where you get dedicated servers. If you don't have sysadmin knowledge to setup a vps, then you can always use server management services for hosting your Yii app, like this one: https://www.cloudways.com/en/yii-hosting.php
Using services like these, you get pre-installed and pre-configured server so you can get right down to deploying your Yii app.
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