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My preferred format is CDs.  It's the right balance of audio quality and convenience.  I used to be under the impression that vinyl was better quality than CDs, but several audiophiles have told me that they are basically equivalent in quality.  Basically vinyl is analogue and CD is digital, but those are the two high quality formats and the other formats are lower quality.  Anyway, I most listen to CDs in my car and they sound fantastic, and I also like having a physical music collection.

At home I also listen to music on Youtube a lot.