Depending on your needs, you may opt for a dedicated SSL certificate or a shared SSL certificate. The choice depends on the kind of business as well as your budget.
Shared SSL Certificate:
This is a certificate that you share with other vendors / organizations. These are usually provided by web hosting services for a monthly fee. The shared SSL does not use your domain name, but the server hostname is used in place of your domain name to allow secure connections.
The main disadvantage of this is that your name would not be published on it. If you own an e-commerce website, this is something to be worried about, as many users would abandon the website due to privacy concerns. On the other hand, if you are counting your pennies opting for this would save a few bucks.
Dedicated SSL Certificate:
Also referred to as a private SSL certificate, this has your domain name mentioned in it. While this is much secured in comparison to a shared SSL certificate, you are in charge of your domain’s protection. It will verify your domain ownership as well business reliability by confirming organization documents, where process depends on upon the certificate you choose.
When customers see HTTPS, padlock and your company name in the browser, it boosts your website’s credibility; as well, customers would like to deal with your website.