Which is safer to hold your Bitcoin in wallet or Exchanges?

[Agbe]

The matter what I will not advise someone to use exchange to store cryptocurrency from what I have experienced in Binance in my country. I only to woke up to see that that my p2p in Binance was disabled and I couldn't not do anything with my country currency again although it works with cryptocurrency to cryptocurrency. And if your cryptocurrency cannot be changed to your fiat currency then it is worthless because as for now we are not using cryptocurrency to buy things but with fiat.
Therefore it is better we keep our coins in the non custodial wallets so that in case the centralized exchanges collapsed our coins are still saved. Prevention is better than losting them. Non custodial wallets are much more saver than exchange.

[NikeFit_7777]

Although the answer is relative. But yeah, this is the answer that I think most people, including me, agree with. And actually Hot wallets can also be quite safe as long as we also know what things we should avoid so that our wallets remain safe. And most beginners even lose crypto in their wallets because they don't even know about token phishing or dusting attacks and such. So the safest thing is that we also have to know the steps in securing the wallet itself.

Again, it all depends on the amounts + what exactly you mean by the word security. For some people, storing on the exchange is already security, while others buy cold wallets for this purpose. In any case - storing on exchanges is not the best option as far as I'm concerned. It is not worth choosing it, it is better to spend time and get everything (at least) on hot wallets. Again, everything is as individualized as possible. For me, maybe some of the above works for me, but for someone else it doesn't. 

P.S. If the question is about safety, it is better to approach it with maximum familiarization.

[Learn Bitcoin]

Hot wallets are quite safe if we choose a reputable exchange and we should always avoid scammers and hackers, who promote phishing. In the short term, hot wallets are quite safe for me. But it is not recommended for the long term.

The initial question was which one is safe for holding? If you don't know what is holding, you should learn more about it. Holding is supposed to be for a long time. You should not really suggest a hot wallet to people who want to hold their Bitcoin. If someone wants to hold their Bitcoin for a long time and if the amount is large, they should use a hardware wallet. If the amount is not too big, they should use a self-custodial wallet like Electrum to hold their bitcoin.

I will never suggest an exchange to hold their Bitcoin. Use exchange only when you want to sell your Bitcoin or altcoin. That's the only point when you should use exchange.

[Freemind]

Hot wallets are quite safe if we choose a reputable exchange and we should always avoid scammers and hackers, who promote phishing. In the short term, hot wallets are quite safe for me. But it is not recommended for the long term.

No exchange is 100% secure, none of them. Of course, Binance is not 100% secure either, but it is the “best” according to many people. Binance also suffered a successful hacker attack in 2019, where attackers stole cryptocurrencies worth $40 million from the exchange. This news caused many users to withdraw their funds quickly to avoid losses.

CZ's "brilliant" idea was the following:

In the wake of a multimillion-dollar hack Tuesday, Changpeng Zhao, the CEO of cryptocurrency exchange startup Binance publicly discussed whether the company might seek to encourage bitcoin miners and node operators to "rollback" the bitcoin blockchain, reversing transactions confirmed by the network to return the funds.

Fortunately CZ gave up on his idea because, logically, no one liked it. This is just a simple example of how unsafe exchanges are, even the most reputable ones.

Here you can read this news: Binance Considered Pushing for Bitcoin 'Rollback' Following $40 Million Hack.

[LUCKMCFLY]

Well, in my personal opinion, it is best to have it in private wallets, the most Recommended is a ledger, but it is expensive, but if it is a large amount, why not make the expense? Such is security, and if it's money, why risk it? It is much better, if the money is left in an Exchange , that money is not ours, it is from the exchange , what is ours and ours will be when we Enjoy our public and private keys and they are under our control, in an Exchange, even if it is the The more Famous and Better Will Always have governmental restrictions and if they, Through an order, decide to confiscate that money, we cannot do anything but Accept such a thing.

I do not Recommend Leaving the Money in an Exchange, Unless you Want to Trade , but it is something that is the trader's Responsibility to Immerse themselves in a world of KYC rules and who knows what else.

[BitMaxz]

Holding Bitcoin to any exchanges is never been safe even if they are legit since everything on the exchanges is online it can be hacked.
Another thing is we don't have full control of our assets if the exchange is suddenly shutdown we no longer have access to our hot wallet because they are the one who controls our wallet like they said "not your keys, not your coins".  That's why it's safest to hold BTC if you use a wallet that supports seed/private key backup with airgap function.