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It used to make a big difference when it first came out. Now, I haven’t really seen a difference. Most SEOs seem to think it does nothing, as Google just ignores bad links. If bad links hurt you, you could just pay to get them for your competitor. Only good links seem to help now.
However, there are still manual penalties you can get for links, so there could be situations where it would help. I have used it a few times in the last year for clients who had a ton of spam links in ahrefs (no manual penalties). I just disavowed any link marked spam with 0 traffic. I did not see any noticeable difference in any of the cases, although the sites are all slowly trending upward in traffic over time. It’s not like I disavowed and instantly saw huge gains in a few weeks or anything.
