When the product is free, you are the product
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Selling of your user data, transactional info, and advertising. Pretty much the same as what we have seen for the past decade
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ShapeShift doesn’t sell user or transaction data, and has no advertising.
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Can't speak for ShapeShift but this is how most "0 fee" brokers work: The fee is built in to the price you're quoted. Notice the $15 gap between the broker's buy/sell price (right) vs the $0.10 gap on a real exchange order book (left). Broker can mark up/down exchange price.
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Depends on how you define "commission" but it seems to be accepted at the major US stock brokers, at least. If I buy a hat for $5 and sell it to you for $7, should I say the fee is $2, or can I say it's $0 fee and it's not your concern what my margins are?
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If you are not shown an order book and the counter party to your trade is not another client of the business, it's probably a broker and not an exchange. It's kind of like retail vs wholesale. You could get the wholesale price but you're paying for convenience and simplicity.