How do you guys factor in exchange specific risks with newer altcoins?

Been trying to get a handle on some of the smaller cap altcoins, thinking about diversifying a bit out of just $BTC and $ETH. I'm seeing a lot of interesting projects, but many are only available on a few exchanges, some of which I'm not super familiar with.

My main concern isn't even necessarily the project itself, but more the exchange risk. How do you all weigh the potential for an exchange to have liquidity issues, or even delist a coin without much notice, especially when you're looking at smaller players? Does anyone have a systematic way of assessing that, or do you just stick to the top tier exchanges for everything?