Adding your location helps you find jobs according to your distance from them and get recruited by employers in your area. This increases the likelihood of finding a job that suits your needs and preferences.
When employers can search for candidates based on proximity, sharing your distance from the work location can positively influence their recruitment efforts. Additionally, by sharing your location, you can be matched with jobs that align with your preferred method of travel.
It is highly recommended to use your real address - no employer will be given your exact location, however your address serves as a better reference to calculate your distance to jobs, which is something that employers will see.