Using your IP address (11.22.33.44 is an example IP address) is the preferred entry for your hostname, but yourdomain.com will also work. We prefer that you use your IP address because in the event you are transferring your domain to us, you can still connect to your site via FTP right away, even though your domain name may not be hosted by Wmirchi.Com.
Using your IP address also gets rid of unnecessary DNS traffic. The reasons are small but it is still best to use your IP address as the hostname.