I suggest you to make a wallet, do not exchange. because every project needs a wallet address, not an address exchange. you can use myetherwallet to receive your rewards

Agree, it is much better to invest in a hardware wallet. Etherwallet can be hacked just like the etherwallet of my friend where two of his wallet has been hacked. Don't know why, maybe he exposed his private key.

Wallets are safer than exchanges.

Statistically, exchanges are prone to hacks than wallets.

If losing your coins would be a life changing event you should consider storing you coins on a nano ledger.
If you day trade then definitely keep the amount you use on exchange.
And if you transfer your money a lot, avoid transferring directly between exchanges because its not 100%. Send coins to your wallet first and then to the new exchange.

I think it's better to put your coins in an exchange because you can do whatever you want with it and you are in charge of your profits and loss. The cons is that there is a little bit of chance that you may lose your coins because exchanges can be hacked.

There is a big difference between an exchange wallet and a private wallet. With a private wallet, you are the only one controlling the wallet address and its associated private key. An exchange wallet is generated on your behalf, yet you have no control over it whatsoever. Although you can freely use an exchange wallet, it is not your digital property by any means. Unless you own its private key, it’s not yours, nor is any of the money associated with it.

indeed the exchange is indeed a lot of doubt that happened. then we take the risk we better choose the wallet only.

Don't put your digital currencies on crypto exchange sites. Only use this crypto exchanges when there is a need to exchange your digital currencies. If you only know that there are many cases of crypto exchanges accused of being a scam or got hacked. It's not so safe to put in all your coins there. So use wallet instead of using the former as your digital currency storage. 

It depend on what kind of trader and how much moneydo you invest. If you are day trader then you have to keep your fund stored at the exchange. If you are Long term trader then you should keep your fund in your wallet.