This is the best advice and explanation so far by the O.P to anyone who is currently into crypto now, as we never can tell when another trusted exchange may go bankrupt after the fall of "FTX" during the week because if only had we treated exchanges as an only marketplace to buy coins, while we send to a cold wallet, the effect on the crypto market wouldn't have been that much. However, it's never too late for us to have a u-turn from today, most especially the newbies who are new to bitcoin.

Advantage of having your BTC in a cold wallet
1. You have total control over your funds
2. It can't be stolen or hacked

Example of a cold wallet Is Electrum wallet