Hi, @theselecter
The purpose of the crawler is to traverse your site and refresh pages that have expired in the cache. It’s a way of pre-caching pages so that you don’t have to wait for visitors to hit the backend on those pages.
You can get some details on what all of the settings mean in our wiki.
I hope this helps!
Lisa @ LiteSpeed
Added:
Oops! Sorry, I missed the other few questions you had.
Really, the only downside would be if you have limited system resources, and can’t handle a process running in the background, caching the pages of your site. However, there are several settings that let you control just how many resources the crawler can use, so you should be able to keep it at a minimum, if that’s what you need.