I have some Litecoins, I'm currently mining Ethereum, and I am also looking into buying some Steem, but I'm really confused about how all of this works.
I currently have all of my Litecoins on coinbase but I'd like to get them offline, and my computer could crash so that's not the ideal place either. I did look at some hardware wallets but they are pretty expensive. But the main problem I'm having on making a choice is my lack of knowledge. How and where are coins actually stored? I've read some sites that seem to indicate that you can store your coins in your head by simply remembering the key? While I was under the impression that they needed to be in a software/hardware wallet somewhere. I've also heard you can store coins on paper in what's called cold storage. How about a backup, dos that mean you have the same coins in two different places? I'm thinking of storing them on paper or on a USB thumb drive and keeping them in a safe. But until I get educated on how this actually works I am lost and unable to make a decision. Thanks for any and all replies.