There is a really wide selection of different types of LEDs, many designed specifically for growing. I would definitely try selecting one designed for growing with a high PAR rating. If you don't know much about PAR or lighting in general it would almost definitely be smart to buy a factor made LED. And by factory made.. I mean just that- lights made in a factory that is designed to produce light fixtures.
And a lamp is what most people call a "bulb", does not include ballast and other components more than likely.
Look into grow lights, find out what others are using and try one out. If you want to save money, try to buy used equipment if possible in your area. There are so many variables when it comes to growing, so a lot of it is up to you as far as how much money you want to spend, how much you want to crop out, growing space, and so forth. Many things to consider... the big ones are PAR rating, grow space, heat, and power supply. Figure out your limitations and work within.