You also have to take into account the probability of your exchange of choice being hacked vs. the probability that you'll get your own wallet compromised/destr

You also have to take into account the probability of your exchange of choice being hacked vs. the probability that you'll get your own wallet compromised/destroyed/lost etc... Given that cryptocurrencies have become pretty mainstream and given the average level of technical literacy among the general public I can understand why some might prefer to keep their coins in somebody else's hands.