If you want to save assets for the long term, don't exchange them, it's very dangerous. It's best to keep it in a safe wallet, personal wallet. Electrum wallet is also good and safe. However, if we still want to trade, saving in a reputable exchange is no problem
I think many of us sometimes overlook the logical aspects of exchange usage. For those who trade often, it would make more sense to leave your trading funds on the exchange you use frequently to minimize transaction fees associated with moving funds between wallets. However, you should be aware that your funds are in the hands of another individual, so you should always be vigilant and keep checking. On the other hand, for those who are holding onto assets for the long term or for reasons unrelated to trading, it would make more sense to store them in an external wallet.
Exactly, therefore, when you have made a lot of profit from cryptocurrency, it is better to keep all your assets in a digital wallet such as Electrum or others. Never store it in an exchange wallet because we don't know how long the exchange will be around.
In crypto-friendly countries, users can feel secure using CEXs, even storing a lot of money on CEXs. In countries with an unclear view of crypto or constantly changing policies towards crypto, users should prioritize self-custody of crypto in personal wallets to avoid problems. For example, in Nigeria, users are facing the risk that their personal data when using Binance will be made public under pressure from the government.
I don't think Nigerians currently have too much business with Binance since the peer-to-peer medium isn't available to them. Although there are a few services they can utilize, I came across news that doesn't make sense from any angle. Are all Nigerian Binance users under investigation or what? Like I said before, Binance would really love to see more involvement from Nigerian traders, which might possibly result in them releasing such sensitive data. Just saying...