Excuse my ignorance, but I can't seem to find an answer from the internet.

If NXT is a decentralized currency, why do I need to download their client to store my coin? That doesn't feel safe to me.

For example with Bitcoin,Monero,Litecoin, etc I can generate a random wallet and put it in cold-storage, but from what I understand NXT wallets are only stored online?

Am I missing something here?