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?
Exchanges = risk of hacks, it is out of our control. Cold storage = risk of losing funds, it it in your control.
The way I see it, cold storage is the better alternative if you can trust yourself enough to safe-keep your own key phrase much like the safe-keeping of your log in details to your exchange. It is no brainer - really
