If you had a large amount of cryptocurrency would you prefer to keep it on an offline cold wallet or an online cryptocurrency exchange?
Both have pros and cons.
Your fund safety should be your most concern, more than convenience when you store your bitcoins on centralized exchanges.
Convenience is clear but does it worth to take risk of losing your bitcoins if that centralized exchange goes bankruptcy or scam?
Reminder: do not keep your money in online accountsThe vital point for your fund security is "It's not your private keys, it's not your bitcoins".
Bitcoin Q&A: Not your Keys, Not your Coins. This is a 15-minute video and watching it can help you to get answers for following important questions.
How is the public / private key pair stored in a wallet?
What is the difference between a mobile and web wallet?
What is the relationship between wallets and IP addresses?
Why are developers of Samourai and Wasabi wallet arguing?
Custodial surveillance wallets a bigger problem to avoid.