A static IP address is a number that is assigned to a computer by an Internet service provider (ISP) to be its permanent address on the Internet. This means that whether you type in your URL or the IP address of your website, both will bring you to the same page. For example if someone types your domain name (www.yourdomain.com) in the address bar, that name will be converted into numbers and then the computer will be directed to that IP address (which is the web site).
The main reason for having a static IP address is that you can only use encryption for e-commerce on a static IP address.
A shared IP Address is an IP address which is shared by multiple websites. In this case, the web server does a little bit of extra work when it receives your web request, and passes you to the correct website. Typing in the IP Address will not bring you to your desired website, under most conditions.
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