There are two types of WordPress: WordPress.com and Self-hosted WordPress.
WordPress.com will be a good option if you want to run a blog or a simple company site. Some restrictions may apply depending on the plans you choose.
If you want to use the full features of WordPress, you might want to use Self-hosted WordPress. To use Self-hosted WordPress, you need to sign up a web-hosting service such as Bluehost or SiteGround.
If you want a cheap but relatively good performance web-hosting service, you might want to choose Bluehost’s Shared Hosting. If you sign up for Bluehost's Shared Hosting by clicking on this referral link, you can get one dollar discount per month, starting from US$2.95 per month.
If you sign up for a service by clicking on the referral links in this post, I will get some commission. However, I do not recommend certain web-hosting service providers just for commission. I’ve been running and managing some WordPress sites from several web-hosting services including SiteGround and Bluehost for years (and this blog is hosted with Bluehost.)
No limits on the number of visitors on all of WordPress.com plans
One of the Pros of WordPress.com is that there are no limits on the number of visitors to the site.
Therefore, WordPress.com will be a cost-effective option for web sites with large number of visitors or with many images.
I personally run a WordPress.com blog with Premium plan, which allows users to add Custom CSS but does not allow to install external themes or plugins. If you want to use install external WordPress themes or plugins, you need to choose Business or eCommerce plan.