Cryptocurrency is stored in a digital wallet, which acts like an online bank account. When storing cryptocurrency, users should follow the same security practices they would with any other form of sensitive data, such as keeping their private keys secure. There are several types of wallets, such as paper, mobile, desktop, and hardware wallets, each offering different levels of security. Users should always use a reputable wallet provider and practice safe security measures, such as setting up two-factor authentication and using a secure password.