Pro-tip: Hold onto your bitcoin private keys!
Avoid storing your bitcoins on centralized online exchanges! The recent $65 million hack of Bitfinex highlights the risk bitcoin users take when storing their bitcoin on a centralized service. Big bitcoin exchanges like Bitfinex and MTGox can accumulate hundreds of millions of dollars worth of customers bitcoin. These huge sums attract the hackers and make it very worth their while to find a way to steal the bitcoin. A recent report states "33% of all bitcoin exchanges operational during 2009-2015 were hacked".
Skip the big centralized exchanges! Use a local bitcoin ATM! Have your bitcoin stored directly to your mobile phone wallet by using a bitcoin ATM to purchase and sell your bitcoins. Find a Coin Cloud ATM near you.