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I think the OP means do you fade out your bass rather than letting the last note die or killing it.
Yes, I fade it out when I don't want an abrupt end to the last note.
I use a bass that doesn't have a buttload of sustain. But I used to, and I would touch the heel of my hand on the strings by the bridge and gradually roll it up the strings until they faded out. I think it sounds more natural that way, but that's a personal preference, I guess.

I use a bass that doesn't have a buttload of sustain. But I used to, and I would touch the heel of my hand on the strings by the bridge and gradually roll it up the strings until they faded out. I think it sounds more natural that way, but that's a personal preference, I guess.
Kill it - definitely.
I believe it does matter, a lot - anything else sounds sloppy.