Starting on March 2014, all OpenVZ plans* with 256MB+ RAM come with nightly backups as well as snapshots.
* New Jersey is still pending final roll out
Snapshots let you take a backup of your virtual server at any time. Snapshots currently require that your virtual server be powered off to make sure there is no inconsistencies due to open files.
There is no limit on the file size of a snapshot, but we do limit each virtual server to 3 snapshots, total.
We're working on adding functionality to allow you to restore a snapshot to a different virtual server, allowing for easy cloning of instances.
We currently keep 1 week of rolling daily backups and are considering changing this to 2 weeks, depending on stress loads.
Snapshots are kept until you delete them.
Backups start every morning at 3:00 AM GMT -7. It may take up to 6 - 8 hours for your virtual server to be backed up, depending on what node you're on, etc.
Daily backups do not require your virtual server to be powered off or suspended.
Snapshots force a power off. Once a snapshot is completed, the virtual server is automatically powered back on.
There are plans to add backups as a paid option. We're currently hovering around $1.20/year to $1.50/year to add backups to your plan.
If you want backups now, we recommend upgrading to a 256MB+ plan, as these also include a free upgrade to pure SSD storage.