-snip-
But that wasn't my point. I was pointing why people still using centralized exchanges and how these exchanges attract people with their promotional offers.
Offers and some promotions that are given make people interested in using it, but it is not recommended as storage.
I won't be hypocritical because I also use Binance as my trading venue, but the storage of key assets is certainly in the safest Hardware wallet.
Some exchanges provide protection to their consumers when there is indeed a hack or something like that with appropriate refunds.
Like the SAFU implemented by binance, with these funds Binance will guarantee the user's balance will be guaranteed.