Personally, I don't see the point of using centralized wallets other than simply being a risk. I used to use Binance for everyday transactions and due to a country move and a couple of phone number changes (for 2FA) it was enough reason to lock my account and ask me for a video to confirm my identity, lol. The worst part of the case is that I can't do it because apparently their phone APP is buggy.
I know the security issue is also important, but there are times where the absurdity is pretty high. Since then I won't get tired of saying it: personal wallets are the best place to store your cryptos.