The other folks here are giving you good advice, I will add a few of my own comments.
I have had a GoDaddy VPS, various configurations, since 2011. I am not affiliated with GoDaddy. My current VPS is a Deluxe 4GB Gen3, with 120GB Disk Space. This particular VPS I have had for 2 years, and I purchased it with a 3-year contract, so at the end of this year I have to "buy again." GoDaddy offers discounts, so it is hard to say what someone would pay today, but I paid about $27US/month for this 3-year purchase. This server has not had any downtime in these 2 years.
This VPS is called a "managed" server, but what that means is that I got cPanel. Unlike some of the folks here who can install servers from scratch in their sleep, I need the help of cPanel because I am not a server admin, I am a professor. There is still a learning curve, even with cPanel, so when you explore companies, make sure that you understand what kind of support they provide. In GoDaddy's case, they know how to keep their servers running, but you are pretty much on your own. Many of these companies will not install Moodle for you, and DO NOT use the one-step installer!
Installing Moodle is realatively simple, but you need to make sure that you have the required server settings correct, for example, the correct php extensions.
So, I am trying to tell you that it can be done, but this is not to say it is simple. A lot of what I am saying depends upon your background and desire to learn.
All of this being said, you do have a low-cost entry. With GoDaddy, and probably with others, you can buy a one-month (or more months, whatever you need) server, experiment, wipe it out and start over, within your one-month. This is what I did two years ago. Install, experiments, wipe-clean, do it again. Yes, a one-month server is more expensive than a 36-month server, but it will give you a chance to learn what you are getting into.
(Others here, like Visvanath, will probably give you some of their thoughts about GoDaddy. Again, I am not affiliated with GoDaddy, and I love learning things from these folks. They are my experts! GoDaddy has been working for me, they might be the largest server company in the world (good or bad), and their product pricing is competitive.)