Yes, cold wallets are much more safer than storing them in exchanges, if you can imagine what I'm describing to you then you'd understand, picture cold wallets as something like safe in your house, you can store anything in that safe and only a handful can open it without forcing the safe to get to the inside and exchange wallets are like those informal lending that's organized by a group of your acquaintance in your work, they may say that it's safe but there's really nothing that's stopping them from running away with the money or risk the money being stolen because of a thief. So based on how I've described it, it basically means that your cold wallets might be the best thing for storing your bitcoins, just don't forget about how to access them or you'd end up like that dude that's suing the landfill because he can't find the laptop that contains a lot of bitcoin but I digress.

Always remember these saying: "Not your keys, not your coins."

It depends. Am I using that money to trade? If not then I wouldn't want to hold my coins in an exchange as they are only recommended primarily for trading not holding. So if I had a large sum of bitcoin, I'd put it in a cold wallet safely secured somewhere that no one would know. However I'd still leave some coins in a wallet located on my phone for emergency purposes as they are more convenient.

There is no pro in storing coins in a online exchange, it is a blunder.

Aside from the coins that are on active orders, do not keep coins on exchanges because you do not hold their private keys and those coins can go into KYC-lockout/exchange hack and limbo and so on.

While coins on your own wallet are always ready to be accessed. Hence for storage, a wallet is always the best option.

Do you want to store money your way and only you can access your funds or do you want to deposit them in the bank and depend on the bank? The bank can go bankrupt or freeze your assets at any time without prior notice to you while it is your money.

Similarly, using a cold wallet gives you full control over your assets, you are like your own bank, you will be responsible for the safety of your assets. Meanwhile, centralized exchanges are even riskier than banks. They can be attacked by hackers, go bankrupt, freeze your assets without notice or compensation to you. It will all depend on your preferences and choices.

You would have easily gotten this information by doing a quick search. Keeping large amounts in an exchange is risky because you can lose your funds if the exchange is ceased, go bankrupt, or suffer a hack. The funds you keep on centralized exchanges are not your own because you can lose them at any time. But people have come up with several reasons why they use it which include the ability to recover passwords and the ease of exchanging or trading. It is advisable to keep only small funds in exchanges
Decentralized cold wallets are suitable for keeping large funds because they are more dependable. You also have total control of your funds which makes it recommendable for long-term hodling. But if you lose your password or seed phrase you might lose your money.

#Offline/Hardware wallet/Non-custodial would be the best - Or something that you do possess the PK of that wallet
#NOT YOUR KEYS NOT YOUR COINS- This has always been the primary rule when it comes to crypto possession.

This is why if you are trading up actively then you should really be just that putting on the amount that you would really be tending up to trade and not really that putting up all of your assets on an exchange
because you dont know on when shit things do happen. We've seen exchange hacks and other incidents on which it causes up for someone to lose up money and on the moment that you've been on such
condition then recovery would really be that so hard. This is why you should really be careful on where you would really be storing your coins with.

Always consider out on having that kind of securing your coins rather than on being that too confident with the current set up you do have. We wont know on when
unfortunate conditions do happen and this is why we should really be that careful.

What would be the pros of storing bitcoin on exchanges? Convenience? Maybe easier trading?  But for large amounts, security trumps all that.

Cold storage is the way if security matters. Exchanges get hacked like every other week.  Poof - there goes your life savings in Bitcoin.  Not a good feeling, and convenience ain't worth that stress. But with cold storage, you control the keys. Only keep on exchanges what you're cool with losing.

Yes, both has it's merits and demerits, but on a general scale, when it comes to safety and security of funds, I think cold wallets are more safer than crypto exchanges, because it offers you the access to have full control over your funds and its private key. However, there are several factors that will warrant one to choose which option, such as;
1. If you are a trader, and needs funds/coin for your daily trade, then keeping them in your exchange wallet is far better, as it saves you the stress of transferring funds too and fro using high fees.
2. If you are just an ordinary investor who wishes to just buy coin and hold for very long period of time, then storing it on a cold wallets is far better, as it grants you the full control over it.

An exchange is a place to buy and sell, not a place to store assets.
It's not really a matter of pros and cons, but about the security of the assets. If you store assets on an exchange, then the assets are not yours, but theirs. How is that possible? Because the address obtained from the exchange to receive and send is not controlled by us. We only have a password for access to the exchange that is registered using an active email.

This has been repeated because there have been many questions like this that have been asked.