When a profile has been verified, you have an extra indicator that the profile may indeed belong to a real person.
Social Media verification is the least robust ways to verify profiles. This is where a user connects a social media app (often Facebook) to their dating app profile, thus supposedly confirming they are a real person. However, because it is very easy to create fake social media profiles, the added security provided by the type of verification is very low. Most apps will add a badge icon with a tick, shield or similar to indicate that a user is verified.
Profile verification is one of the measures used to try and reduce scams and fake profiles and to increase the security of a dating app.