With shared hosting, many websites use the same IP address. You might require your own IP address if you want to access your website by both the IP address and the domain name. This is especially useful during periods of domain name propagation when you can't access your site by using the domain name.
Don't purchase a dedicated IP address if you are installing an SSL certificate you purchased from GoDaddy — we automatically issue a dedicated IP address when an SSL certificate is installed on our shared hosting servers. However, if you're installing a third-party SSL certificate on a cPanel or Plesk account, you will need to purchase a dedicated IP address.
NOTE: Once your account has a dedicated IP, you must update all of the domain names hosted on it to use the dedicated IP (more info).
Dedicated IP addresses are not available on free hosting accounts.
Dedicated IPs can take 24 hours to become active on your hosting account. Once applied to the hosting plan, all domains can be pointed to the dedicated IP address.
To remove a dedicated IP address use the above steps, but select Remove Dedicated IP from the Server IP menu.