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'd say if you're planning to keep the bitcoins for the long term then store them into cold storage private key rather than coinbase.
In past coinbase blocked me from accessing my account because i used my coinbase wallet to deposit into a gambling website so you can't be certain what might happen.