That's the smart way to do since buying bitcoin and store it on cex will give you a huge risk to lose your money, so if you plan to buy some bitcoins then hold it better withdraw it and store on your hardware wallet because this is safe destination of your holdings.

At the moment there's a lot of problem happening of one of the biggest exchange exist at this era so most provably this drama will create lots of commotion which can make the price move and discourage some of people to invest on any crypto at this point.