I do not hold funds on exchanges, it is not safe at all. Exchange can be hacked, your account can be suspended/blocked/frozen. I hold on the wallets with full control of private keys, mnemonic phrases, etc. I use exchanges only to sell/buy/convert some assets and withdraw it immediately.
I agree with you. But in any case, users' wallets can also be hacked. Therefore, exchanges such as binance, to a certain extent, provide more protection than conventional storage. Storage everywhere at your own risk)