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 think cold wallet is definitely safer if you take percussion and store your seed in two different physical places that you know for sure are safe. I dont think Binance or any other exchange guaranties you your money back if they get hacked. If you do decide to trust exchanges more, then its better to spread your coins trough few exchanges with best reputation.