It seems to me that it would be safer (and more convenient) to keep your crypto on an exchange (coinbase, blockfi etc) than cold wallet. Wouldn't the odds be greater that you mess up your cold storage than a large exchange being hacked or whatever (even if they are hacked, that wouldn't necessarily mean you would lose any coins, whereas if you are hacked that's a different story). I ordered a ledger nano X but it seems that the exchanges are still the way to go based on probabilities. What are your thoughts?
I too was great fan of wallets like Electrum until I lost my coins due to some hacking and worst part was I can see my coins going but I cant do anything to stop them. There is no way I can recover them. Exchanges like binance are safe in a sense that they provide features like 2 way authentication that keep your assets safe. Nonetheless, if you can take little bit care of your wallet (be it cold or any other) then go for it. Since you have the keys, you own the coins.