One of the main features of Bitcoin is financial freedom, being able to have and control money without the consent of banks. This may sound good, but it comes with risks. After all, if your bank account is frozen, you can potentially challenge this, however, losing your bitcoin seed phrase could mean losing access to your bitcoin forever.
Freedom of being able to self custody your bitcoin (or indeed any cryptocurrency) is one, however it does come with learning how to secure and protect this bitcoin properly. Without education, it may end up being more of curse rather than blessing.
This is a very important point, the more careful a person is about the responsibility of storing and controlling their assets safely, the safer they will be. Losing the seed phrase or letting it fall into someone else's hands means losing your assets forever, and therefore it is imperative to be careful about storing Bitcoin. There are many people who only focus on buying Bitcoin, and many even hold Bitcoin on exchanges, such people actually only know how to buy Bitcoin, but they do not know how to store Bitcoin safely, and this can be a reason for them to lose everything, but this issue is neglected and ignored by many in the first place.
Ensuring the security of assets is equally necessary, ignoring it means keeping a very big weakness in yourself and that if something causes a problem, there will be no way to protect the assets. Therefore, along with setting up a secure wallet, it is mandatory to store the seed phrase very seriously.
That is not to say that keeping your BTC with an exchange is wrong, but you need to keep in mind that you are entrusting your money to some company. Getting Bitcoin is the easy part, and keeping it safe for years to come is harder.
Make sure to check that your backup works and that you know how to restore your wallet before you need to. A bad backup (or one you cant find when you need it) is almost as bad as no backup. Remember that keeping your seed phrase safe is only part of properly keeping your Bitcoin safe.