Where do you live? Does you perhaps have a bitcoin atm near you? Maybe some other exchange?
However congratulations op for joining the club. I wish you a long hold with many profits.
Just to be safe you I would store that bitcoin in a cold wallet.
There's an other exchange here but I want to try the Coinbase system as I see it has better rates. So the process will be Coinbase Exchange then Cash it out to our local exchange.
For an online wallet like Coinbase, up to 1 BTCs would be a maximum that I would store in it. 1 bitcoin is not that much of money and for some non-technical people it's much easier to just leave it in Coinbase than to go through all the trouble of learning and setting up their own wallet.
As long as you don't send your funds to the online gambling sites, etc, Coinbase is good enough I guess up to 1 BTCs.
There you go. Some are just overacting that even a 1000 satoshis are required to store in an offline wallet. Its fine for holding job but for circulating much better to use online wallet.