So far I keep my digital assets like BTC and other valuable altcoins on major exchanges like Binance and leading local exchanges. and so far the digital assets I have are safe because I use dual security or 2fa on all exchanges. but this will be very complicated if you lose your phone and your phone number is also lost.
In my opinion, storing assets on the exchange is less secure, because hacking often occurs on the exchange
Personally, for the exchange, it's usually only for trading, if it's for saving, it's more of a metamask
Storing assets on an exchange is like depositing money in a bank. If you do not keep your own keys, your assets can be frozen at any time or the exchange collapses, your assets will be lost and there is no way to get them back. No one will compensate you. You should move all your assets to a non-custodial wallet where you have full control over your assets.