localbitcoin is not a wallet ,it is an exchange and as every exchange has a wallet.
Exchanges are not trusted and not recommended to store bitcoins because of many reasons such as :
1. we know hackers like to launch cyber attacks on exchanges to steal cryptocurrencies.
2. Exchanges obeys to laws from the country where is registered and you never know when that government shuts down the exchange website or suspend the website for long time for investigations.
3. Exchanges obey to bitcoin regulations so some countries are banned from using services (example coinbase).
Localbitcoin is recommended only if you earn fast, enough bitcoin and you want to sell it fast. Or if you have saved bitcoin in your wallet and you want to sell it .
(Remember never sell big amounts of bitcoins because of many reasons such as :
1. Big amounts of sold/traded bitcoin are flagged and gets susceptible for investigations from police. But i'm sure you don't have worry about this first rule because if you were rich in bitcoin you wouldn't be here on faucets topics
)
2. You can find a scammer and better to lose a small amount than a bigger amount .)
Most popular in the world online wallet is blockchain.info . This is an online wallet . You can store bitcoin there but a better wallet is a physical wallet (hardware wallet ) a small device that looks like an USB flash device where you can store on it you bitcoin and you can take it you anywhere ,except if you travel in Bolivia i think, where the bitcoin is banned and you are sent to jail right away if you get cought with such device on you) but such devices are/can be expensive 80-300 euros . Example of devices
https://trezor.io/ and
https://www.ledgerwallet.com/ .
So the best and free alternative between physical and virtual wallets is the virtual on line wallet such as blockchain.info.
You can keep saving and store your bitcoin on blockchain and when you saved enough or want to sell , create an account on localbitcoin or poloniex or kraken or whatever exchange is best for you and send bitcoin from your blockchain address to your localbitcoin address. You will have to pay fees for transaction but keep in mind bitcoins are safer on blockchain.info then on an exchange website.
Even if you are beginner you don't have to worry about not knowing how an exchange website is working ,just keep saving bitcoins in your online wallet.
When you create a wallet on blockchain.info don't forget to write down password, your wallet ID, those 12 security words so you won't forget your login data. If you lose/forgot your login data, your bitcoins are lost forever in the network.
And never don't tell to anyone how much you have in your wallet even if 20$ worth bitcoin or don't leak personal data so you won't attract hackers.
Explore your newly created wallet features and only after you know the basics you can send bitcoin because if something went wrong (forgot password) you can create another wallet but money are lost.