The recent hack of Binance has made very clear that storing your cryptos on exchanges can cause you to lose your money. It is very important to protect and secure your hard earned Cryptos from hackers.
Heck, even without the occurence of Binance hacking, I wont be storing my coins on any exchanges. I dont trust them at all. I dont care if how many 2FA's you have to go through before you completely logged in. It would be the dumbest thing for an investor to store their coins in an exchange for a long time. If you notice, there are a lot of issues in every exchange are facing every single day. One of them was the log in attemps.
Instead if I do trading I'll transfer some coins only enough value to trade. Sounds so hassle, but its better be safe.