a safe way as well as a concern if the wallet containing Bitcoin is lost, the secret word is not properly guarded. withdrawing Bitcoin from Exchange is a long-term goal. But what's the harm in keeping it on an exchange and not traded, is it at a loss? and if it is lost it will be the responsibility of the exchange, but if it is stored in a hard wallet and is lost, only you are responsible.
so which one is more effective and safer when securing your Bitcoin?
According to my experience, if it is lost on the platform or exchange, will the company replace it? Of course not, and intended to be hacked, but if in a private wallet it is more effective and safer, depending on how you secure your private key, friend.