Shared hosting is incredibly popular with users who are looking for the cheapest hosting available – the problem is that along with the low price you get poor performance and even more concerning – questionable security.
The other concern with shared hosting is that those administering it may not be following best practices. The admin password could be "password" for all you know. Using a vps or dedicated host guarantees that you know best practices are being followed when it comes to OS/application security.
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