Storage items

Storage items are Furniture items that can be right-clicked after being placed, to reveal forty Inventory slots, in four rows of ten, for storing other items. These items allow the player to offload excess items, freeing space in their character's inventory. They can also be used for organizing items, eg. one Chest can hold Ores, while another can hold Gems.

All Storage items must be Placed in order to access their contents or store items. They can be freed by a Pickaxe, but most need to be emptied beforehand (see stationary vs. portable storage below).

Functions
Storage items have special functions which improve management, organization, and efficiency.

Loot All
Loot All removes all items from the storage item (starting from the top-left) and places them in the player's inventory (starting from the bottom right). This allows easy looting when scouting areas for treasure.

Deposit All
Deposit All has the opposite effect of Loot All, placing all items in the player's inventory (starting from the bottom-right) into the storage item (starting from the top-left). Any items which can be stacked, will be stacked. This is a quick way of offloading a bunch of items quickly when in a hurry. Items in the hotbar and items favorited with alt-click will not be deposited.

Quick Stack
Quick Stack detects all of the items in your inventory that can be stacked with the same item inside the storage item, and places it in there. All items will be moved, creating new stacks in the storage if needed. Quick stack will also automatically convert coins into your piggy bank or safe.

In the main inventory screen, there is a button (below the coins) for "Quick stack to nearby chests". This does almost the same as if you manually clicked Quick Stack on each chest, but doesn't quick stack items from the hotbar, and also moves unstackable duplicates of items. It does work with non-chest storage, despite the tooltip.

Rename
Rename allows you to type in a new name for the storage item, which is helpful for organizing large storage rooms. Names can be up to 20 characters long. This name will be visible above the list of functions, and will also replace the storage item's icon shown when hovering the mouse cursor over it. The name can be removed by entering a blank name, restoring the icon and default name. This can only be done on PC.

Restock
Restock allows you to restock all stackable items in your inventory using items from the chest. This can be helpful for restocking Potions, building blocks, and other expenses.

Stationary vs. portable storage
Stationary Storage is public, physical storage space. Portable Storage is actually just an access point to additional private storage.

Stationary Storage
Items like the Chest, Barrel and Trash Can are examples of Stationary Storage. They have the following characteristics, which differ from Portable Storage:
 * These must remain in place while they contain items, and can not be freed or picked up until emptied.
 * Each Stationary Storage item holds a separate 40-slot inventory where different items can be placed; For example, 2 Trash Cans and 3 Chests will offer the player 200 total slots of storage.
 * Stationary Storage contents are saved with the World data, as opposed to the Character data, and will therefore not be available to players when visiting other Worlds or multiplayer servers. When placing items in Stationary Storage in a multiplayer World, other players will be able to see and take its contents.
 * On multiplayer servers, while one player is accessing a Stationary Storage item, no other players may access it.
 * Quick stack to nearby chests stacks into Stationary Storage only.

Portable Storage
The Piggy Bank, Safe, and Money Trough are the only examples of Portable Storage. The Piggy Bank and Safe have the following characteristics, which differ from Stationary Storage: The Money Trough shares it's storage space with the piggy bank. The main differences are that the Money Trough does not need a solid block to be placed on, and when used summons a floating entity that can exist over any block and be accessed by right clicking on it, similarly to the piggy bank. The Money Trough is a rare drop from Dripplers and Blood Zombies during a Blood Moon.
 * These can be freed and picked up while they contain items, making them valuable tools for effectively increasing a player's inventory slots.
 * All Portable Storage items of the same type share the same inventories; For example, purchasing multiple Safes will not offer the player more inventory slots, but will offer more points of access to their Safe contents. The same rule applies to Piggy Banks; however, the Piggy Bank and Safe each has its own separate inventory. If the player has purchased both Safes and Piggy Banks, they will have a total of 80 Portable Storage slots, which is the maximum Portable Storage that any one character can have. Even if a player purchases 3 Safes and 2 Piggy Banks, they will still have no more than 80 total Portable Storage slots.
 * Portable Storage contents are saved with your Character data, as opposed to the World data. You take their contents with you from World to World, and from Server to Server. On multiplayer servers, other players accessing a piggy bank you placed will see their Portable Storage, rather than yours. Other players will never have access to items in your Portable Storage.
 * On multiplayer servers, multiple players can access the same Portable Storage item at the same time.
 * Moving coins you gather into Portable Storage periodically is useful, especially when exploring new or hazardous areas. Coins stored there will not be lost in case of death, even if the Portable Storage device containing them is in your character's inventory at the time.
 * Portable Storage items cannot be renamed.
 * Quick stack to nearby chests does not stack into Portable Storage.

Showcase Storage

 * Armor and Vanity items can be placed on Mannequins and Womannequins.
 * Weapons and many Tools can be placed on Weapon Racks.
 * All kinds of items can be placed in Item Frames.

Trivia

 * Both methods of portable storage can be purchased from the Merchant, for 1 gold (Piggy Bank) and 20 gold (Safe).