A famous saying in the crypto world goes: 'Not your keys, not your coins.'
When you put Bitcoin on an exchange (like Binance, Coinbase), it is actually the exchange that helps you store the private key. If the exchange goes bankrupt (like the FTX incident) or gets hacked, your assets could be lost completely.
If you plan to hold a large amount of assets for the long term, it is recommended to use a 'Cold Wallet.' It is a hardware device like a USB that allows your private key to be stored completely offline, which is currently recognized as the safest storage method.
Remember: in a decentralized world, you must take full responsibility for the security of your assets.
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