Are there advantages to being on a team? If yes,what are they?

Camaraderie and not much else. Your team gets a duplicate of your credits. Many teams have their own web sites.

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BOINC WIKI

Teams are for competition. When you join a team, the same number of credits you rack up are contributed to your team. When you leave the team, the credits you contributed stay with that team.

For example, if you stay with a team for two months and generate 20,000 credits, 20,000 credits are awarded to your account and your team's overall credit.

Many teams like to compete against each other, and once in a while they have a general "gauntlet" where several teams compete for a one-month period for a specific project with the winner getting bragging rights.

Also, teams can increase social interaction as many teams have their own dedicated message boards so you can meet like-minded individuals and chat online.