There are a lot of myths surrounding this question. Some say electrolysis is the only method that works permanently. Some say laser is the only solution and electrolysis is a waste of time.
The truth is that both methods are effective, but they each have their advantages and are appropriate for use at specific stages in the process. Depending on the task, it may be best to use one or the other. In some cases the best results come from use of the combination.
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