For today there are some wallets, which simultaneously provide an opportunity both for storing tokens and their trading on the stock exchange.  Such purse-exchanges include, for example, Bitshares and Waves.  The storage of funds in these purses is much more reliable and at the same time they enable you to exchange for other tokens.  Of course, the volume of trade here is still much less than on large exchanges.  But if trade is not a priority for you, then this issue should not bother you.

If you are planning to trade you should put it ofcourse in exchanges,because you cant use your wallet to trade coins.The risk of using exchanges wallet to store big amounts of coins would have more risk than you are losing in a trade.Hackers will find their way o get some openings from these exchanges that is why exchanges themselve doesnt promote storing coins in exchange wallet if you are not trading the risk of chances an exchanges could be hacked would be 5050 because there is no safe system.

1) An exchange is where you buy/sell cryptocurrencies. A wallet is where you keep cryptocurrencies you’ve bought or have received.

2) No, an exchange cannot be a wallet. However exchanges usually come with a wallet.

Coinbase, for instance, is an exchange and the account you create with them already comes with a wallet from them. This wallet is controlled by you but “owned” by them. I say owned because if they’re website crashes you have no access to “your wallet”. That’s why most people suggest you create a wallet using example [MyEtherWallet](myetherwallet.com) where you are in complete control.

3) No. You need an exchange or interface to send or purchase cryptocurrencies. However you don’t need any of these to receive cryptocurrencies from someone who is sending to your wallet address. You don’t even need to be online. It’s rather that person who needs the interface to send to you.

50%/50% This option gives an opportunity to react to market jumps, and in part to receive additional earnings.

Leave only coins you plan on trading a lot on the exchange, leave your long term holds on a cold wallet offline unless your staking them for mining rewards but make sure your staking wallet is totally secure, for instance the DEEP ONION wallet runs on top of the TOR network as has several layers of security. Try and make sure you yourself don't get hacked revealing your private keys.

Imagine the access to your house is managed by third party security company that you must get in touch with every time you want to get in and exit your house! Would you feel safe? Could there be security breaches because you are not in control of your building? Putting your coin on exchange is like handling your security to third party!

It boils down to how much money to you have in an exchange. If the amount is huge so its better to store it to a wallet that you have control of the private keys. In an event of a hack in a trading platform, your money will be gone 100%. I advise just put enough money on a exchange for your trading activity and transfer most of your money in a secured wallet you own.

I'm sure that you heard about hacks in a exchanges and people bitching out that they lost a lot. Well, let that be a lesson for all of us. I say do not put everything on a trading platform. Don't be another statistics on the growing number of people losing money in a exchange because it was stolen by a hacker.

I think that in any case you will need a purse. No, of course, you can keep money only on the exchange, but still have to start a purse. And I think that in this case the multi-currency MyEtherWallet will be the best choice.

How come such question even occurred? The best way to hold your coins is not to keep them on exchange of course. I personally have both Ledger and Trezor and hold my coins there safely.

Wallet is always the safest way to have, you'll be at peace knowing that you alone has only the full access in your fund. Exchange is not really meant for holding coins, it was made to buy and sell but no hold. Exchanges might fail at any moment and once that happen you will never know what to do. Im also having coins in an exchange but I make sure that it wont last there for so long.