PROS:
Shared hosting is easy, to put it simply. It’s very affordable and easy to start. There’s no complications or really complex setting up. It’s considered the entry level option for people looking for hosting, since it requires the least amount of tech knowledge and financial investment.
CONS:
The issues with shared hosting however, are based around the plain fact that you don’t have control. You don’t control the server or its performance (could be seen as a plus for those of us who don’t know what the hell I’m talking about anyway), so for those of you who know server stuff, this might be a severe restriction.