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?
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I still opted to be responsible for my coins than depositing them on exchange and trust and pray that I can always access it and they will not get hacked, by holding my coins and responsible for coins I can consider myself a responsible holder of course I should be educated and well known on how to protect my wallet and my coins.