It is a personal responsibility to keep your bitcoins safe by yourself, not under the trust of someone, or an exchange. Self custody is risky but it is not something any bitcoin investor will not be able to do if they pay close attention to security tips and updates as they change and are shared on this forum. It is easy to forget the importance and let your guard down at some point when you are hodling, but it is always important to remind yourself that letting your guard down even for one moment can lead to loss and severe regrets.
Guard your bitcoins with the consciousness that loss to criminals is not impossible.
With the cases of exchange hacks and scams and even some where the exchange extort or embezzle the funds of their customers for their own greedy activities I think it's best to always save your crypto-currency funds yourself.
But it's not all about saving your funds yourself because if done wrongly you have still meet say faith like those who got caught up in exchange financial issues.
Have you own wallet, use a very secured password, additional security with 2FA but still this may not be enough to protect you, using a cold storage wallet helps limit you to the dangers from be online. It's more secured and hardly can be assessed by hackers if you are secure with your devices.