Holding bitcoin is great, as you don't have any thing to worry about as long as you hold your bitcoins on a trusted non custodian wallet.
But on the other hand, the ability to lend bitcoin is also another great way to hold, as it automatically offers the holder ability to grow his or her bitcoin easily without the risk of losing it through trading, but in as much as lending is good, it is also one that is not without risk, there is a possibility for the borrower to decide not to pay back the loan, most especially the type of lending that is decentralized and also does not require the borrower to deposit a collateral..
Personally, I will prefer to just hold my bitcoins than lend it, I can only consider lending when and if I've made so much money that maybe losing a couple of hundreds of dollars won't weigh me down or affect my finances in any way.
For one, lending is also a form of investment. After all you get the returns with interest and a vote of gratitude for being patient.
It is good to ensure that when lending, it is done properly, by factoring trust into the play. I wouldn't lending my coins/BTC to who I really don't know or best, trust in anyway.
To HoDL is where most people find difficultly because the fear of losing the savings to hackers or scammers or gambling or other vices that may require great control and discipline to make it work.
I will like to HoDL, at least I don't get to bother anyone to refund my coins or do I bother about market volatilities until am ready to either invest the hodlings, add more coins or withdraw it.