I keep seeing reasons to stay away from centralized exchanges.

[Glowy]

Decentralized exchanges should not be used for your Bitcoin investment or use it to keep big amount of money. When I started cryptocurrency investing, I have lost my fund to many exchanges that later withdrew their services form Nigeria such as OKX exchange, and Hotbit exchange, and sometimes there are other issues that could arise that will still jeopardize your investment. Many times, as we read through the news online, we do hear the story how exchanges are hacked, and how they have lost huge fund to scammers, with these kind of stories, Bitcoin investors or other cryptocurrency investors need to be very careful on how they should make use of cryptocurrency exchanges.

So far Bitcoin, and other cryptocurrencies exist, we cannot entirely rule off the the use of  cryptocurrency exchanges, as it is used for cryptocurrency trading, and little funds can equally be left there, but the storage of large Bitcoin assets should be avoided.

I can't agree less, using exchanges for storage is a dangerous gamble that one should dabble into with caution. Otherwise the scars are enormous and sometimes hard to forget. It could even make one to ignore profitable ventures

[Out of mind]

Centralized exchanges often carry risks notably, user accounts are frequently frozen. A few months ago, for instance, many individuals faced this issue on the KuCoin exchange, where their accounts were frozen. Ultimately, an exchange is never a truly safe place, as it is controlled by a third party, leaving accounts vulnerable to problems at any time. Therefore, using a safe and secure wallet is paramount, though Trust Wallet, while widely used, is not the most secure option due to the potential albeit low risk of hacking. For those seeking superior security, an open-source, non-custodial wallet is the ideal choice. Using a Strong, secure wallet like Electrum virtually eliminates the risk of hacking, ensuring your funds remain safe.