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Microblogging is generally one or two line thoughts which is pointless babble about eating or breathing, tweets from Twitter (which is a microblogging platform itself).
Blogging is more explained theories or opinions, discussed in depth. Think blogger and wordpress.
The name have already told :)
The lowest price of domain name is strato and directnic.
But don't ever think about strato, it's nearly impossible to connect domain with hosting - useless
Directnic is good for amateur users, i suggest