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Virtual Machine (VM) != Virtual Private Server (VPS)I prefer to save the wallet in a virtual machine and protect the wallet file with a zip password 
Not good idea your vps will not stay for a long time unless if you have lots of money to pay for yearly and its still needs backup your wallet.. better to use common wallet in your pc.. and make a backup in your drive D. And not none of these are better, you are still using a hot wallet no matter if you move it to drive D or VM or a VPS. Just use cold storage and be done with it instead of making it too complicated for yourself.