Wow! That's insanely cheap. How much storage space do you have with that?
Here's an introduction to the world of so-called "Low End Boxes".
1. Visit
http://www.lowendstock.com for a list of cheap VPSes around the world.
WARNING: The cheapest ones (as low as a dollar per year!) do not provide IP4 addresses, only IP6. Also, many cheap VPSes are poor performing, or may go out of business tomorrow.
2. Visit
http://www.lowendbox.com for special deals, reviews and user comments. You can learn which VPS operators are reputable.
I recommend RamNode. For $15 per year, you can get a fast server with a small SSD drive, or a slower server with more hard drive space. They have locations throughout the U.S. and also in Europe. Visit
http://www.ramnode.com.
BuyVM also has been a reputable provider for a number of years, and also offers $15 servers in the U.S. and Europe. Visit
http://www.buyvm.net.