Exchange wallet is good option if you trade frequently but don't store too much there as "not your keys not your money" and anything can happen to exchange loosing your funds forever. So always store your coins in your own wallet to be on safe side.
+1
Unfortunately, because of the lucrative promotions, we still use exchanges to store huge amounts of money. Exchanges like Bybit spend millions of dollars apologizing to their users, which is insane. They have been launching new campaigns everyday for the last couple of weeks which is one of the reason people join centralized exchanges.
I am one of the participants in the Notcoin airdrop, and I have withdrawn my Notcoin from Bybit. They had some issues with the Ton blockchain, which caused a delay in deposit. In compensation, Bybit distributed 26 Million dollars to customers' spot accounts. I used to be a centralized exchange hater, but I am using a couple of them.