In the startup guide a VPS hosting company is recommended but if I get most of my traffic from Europe should I still go with that company?
Depends how comfortable with doing your own server setup (or paying someone to do it) you are.
If you're not comfortable managing your own servers, you'll probably be best just to stick with a Beyond Hosting server for now. The slowdown between US and EU isn't massive - a few hundred milliseconds. There are more important things to focus on whilst you're learning.
If you're comfortable with Linux, however, you could get better performance from your campaigns by setting a server up using Digital Ocean's Amsterdam datacenter or Bytemark's UK servers. DON'T do this if you'd have to learn how to run the server, though - it's a lot of learning and your time will be better spent setting up campaigns.
Hope that helps! If you need any more advice or clarification, just ask!
Hey thanks I'll stick with managed hosting then.