Steady coins can be transferred to a cryptocurrency wallet, or stored in an exchange. In the latter situation, the platform keeps its stability coin "in custody"; you don't actually own the coin. You don't take ownership of the stablecoins until you transfer them out of the exchange and into the "self-custody" wallet.
Each has its pros and drawbacks. The storage of stablecoins on exchanges is convenient, especially in the event that you trade regularly. It is not without risks, however. Exchanges could suffer from business failure or hacking. Clients often have no recourse since they aren't bound by rules and regulations.
This is why a lot of stablecoin holders prefer to store their coins in separate wallets. This includes software-based digital "soft" wallets and "hard" wallet drives. They are similar to USB sticks that have digital controls.
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