vCPUs don't prioritize or guarantee performance.
2GB physical ram may not be a lot.
1Mb bandwidth (~100KBytes/s) may not be a lot if multiple simultaneous users with bulk payloads.
Storage may not be performant.
Personally as a first step I would just migrate it to a better, dedicated server. Consider the cost of your time to research it. In the West a midrange older dedicated server starts at ~US$30/mo. All kinds of potential badness about being in a vm on a shared resource are eliminated.
If not, or if that doesn't buy you a solution, you must characterize which of the vserver itself, cpu, storage, or bandwidth is the bottleneck.
Assuming it's linux, I would ssh in and set up prometheus or similar monitoring so you can see it over a week.
If no problem, hit it with concurrent transactions until there is a problem. Compare what you have to do to see a problem on a setup on your laptop vs the remote server, you can judge your vserver then.
For cpu, look with top how it acts when you give it transactions. Who eats cpu?
Memory, top + vmstat.
For storage, iostat.
Network, netstat -s