The first advantage, the BTC stored in the wallet is only us who control.
That depends on many factors:
- How you created the wallet and generated its keys.
- How you stored those keys.
- What type of wallet you used. A custodial wallet differs significantly from a non-custodial one if we are talking about control of the keys.
- And if you took all the precautions to ensure the wallet is recoverable if and when needed.
Before deciding to use a wallet as a place to store BTC, there are several factors studied. After going through all the research, the decision made is quite good — it includes all the factors you mentioned, namely how to use it and how to secure it.