Advantages:
Used wisely, you can market yourself, promote your business, sell your products, get your customers.
No use of expensive location fir office, inexpensive bills and all.
Availability 24 hours, thanks to automation.
Grow your network and gain insights into your competition and take necessary steps to improve your business.
Disadvantages:
Addiction can be dangerous and often can be depressing.
Can Hinder personal relationships.
Can be mentally and physically draining.
Waste of time if not gaining any knowledge or anything informative with it.