Cloud based version control has two major benefits: it makes version control readily accessible to everyone and it provides an offsite backup. Several cloud based providers are available; GitHub, BitBucket, Visual Studio Team Services, Google Cloud Platform, and CodePlex to name a few. However, most (if not all) of them have their limitations. For the most part, if you want to keep your repositories private, you'll end up paying at some point.
GitHub has changed it plans so that all paid plans now include unlimited private repositories. When I first started using GitLab you were limited to just a few private repositories on most of the reasonably priced plans. However, if you are a large company with several developers or you simply don't like the idea of your code being hosted on someone else's server GitLab is still a solid alternative to GitHub
GitLab is a pretty solid repository manager. It offers most of the features that the more well known options offer and you can host it locally or you can use GitLab.com. If you have a Linux box available use it. Otherwise you can leverage VirtualBox to setup an Ubuntu VM.
GitLab's website does an excellent job of walking you through the installation process. Rather than trying to reinvent the wheel, I'm just going to direct you to their website: https://about.gitlab.com/downloads/.