Litecoin (and other cryptocurrencies) is stored in a digital wallet. When you store Litecoin, you want to make sure that you trust the place where you store them. That’s why it’s best to store them yourself through the electrum wallet. It is strongly recommended that you do not store your Litecoin in an exchange (such as Coinbase, Poloniex, Bittrex, etc.) because you do not control private keys. If the exchange becomes disconnected or becomes insolvent, your Litecoin essentially disappears.
Some other options are:
|Electrum Lightweight Wallet|
|Official Core Wallet|
|LiteVault Secure Web Wallet|
|Paper Wallet Generator|
If you are a fan of mobile devices, then Loafwallet is the wallet for you. Developed by a Dev Litecoin Foundation, this mobile wallet works great! And do not forget to always make sure to write your seeds.
Hardware portfolios are another great option, in fact, they are the safest way to store cryptocurrencies. Here is a list of flexible material wallets of litecoin.