I see a lot of confusion around this, so I just want to clarify things for newbies.
I'm not trying to discourage anyone from using hardware signing devices. Rather, I'm encouraging people to get their coins off of exchanges ASAP.
You don't need to wait until you purchase a (potentially expensive) hardware signing device before you move your coins off of an exchange. All you need is wallet software.
A wallet tracks your personal "coins" and allows you to create and send transactions. It also detects when someone sends coins to you.
A Ledger, Trezor, etc. is a hardware signing device. Signing devices are optionally used in combination with your wallet software to securely sign transactions in such a way that your private keys are never exposed directly to an Internet-connected device.
If you don't have a signing device, then your private keys are stored on your laptop. Laptops are Internet connected and therefore there is a risk of remote hacking. This is why it's often recommended to use a hardware signing device.
HOWEVER, unless you have a very high net worth and are likely to be subject to targeted attacks, keeping your keys on your laptop is just fine. You can start there and get a hardware signing device later.
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