What are the advantages and disadvantages?
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That depends on what your site is, and how you use that information. On StackOverflow, you are awarded a “yearling” badge once a full year elapses from the time you registered. Clearly here that information is necessary.
If I were you, I’d save it. It’s a small piece of information that may become useful eventually. It’s better to have it and not need it than to need it and not have it. It would be rather difficult to extrapolate an accurate registration date retrospectively if you don’t store it to begin with.