Some cordless impact drivers have a storage area built in to their design, which is used for holding drill or screwdriver bits when they’re not being used. This usually consists of a simple clip that holds the bits, or sometimes a magnet as well.
What are the advantages of on-tool bit storage?
There’s less chance of bits getting lost, as you will always know where to find them.
There is no need to hold bits or keep them in your pocket when working.
On-tool bit storage allows for quick changing between different bits.