We are fine if we can control our coins and not keep them in the exchanges. I agree with the suggestion from @OP to save it in the cold wallet because that is the safest way to protect our coins from a bad things that can happen with the exchanges. But I am trying not to panic because of much bad news. We need to figure out how to protect our coins. Buying a hardware wallet may help us protect the coins. But you can use an old computer or phone that you don't use and send your coins on that device. You can use the multi wallet to store the coins.
Yes, buying a hardware wallet will definitely save our money and currencies, and it is a good option for those who want to hold their currencies in the long term and not for daily trading, although the hardware wallet is somewhat expensive depending on the model of it that you will buy, your currencies after years will be in a safe place and you will be the only one in control of it, because it will be offline, and if you lose your wallet, you will be able to recover it through recovery phrases, so yes, cold wallets are better than exchange wallets that are vulnerable to hacking at any moment.
