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?
It is always recommended that you keep your Bitcoin in an address that you hold the private key. Knowledge on how to secure our wallet is everywhere on the internet so learning it isn't expensive. If we keep our Bitcoin in exchange there are lots of possible risks involve which includes hacking, shutting down of exchange running away with our funds making their exit scam and worst blocking our account that holds our Bitcoin.