There is a lot of difference between no follow and do follow. It's like day and night.
There is a term called juice, which a website passes when it links to another website.
Here are major differences:
No follow:
Don't pass the juice
Consider the link as non-trusted
You don't get a benefit of the website's high PR.
Do follow:
Passes the juice
Consider the link as trusted
Benefit of website's high PR
Help is link building.
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