I always add ~/.local/bin to my path then throw binaries in it. I do however make sure it's last on my path so it can't overwrite system packages, say maliciously...

For it to always work, you should put it in /bin. Every other solution may fail in some corner case.

Don't do this though.

The correct way to install a command is to package it for your distro, and put it in a place that's suitable for its usage.

$HOME/bin or /usr/local/bin depending on whether you want to make it available for a single user or for everyone

And check your $PATH of course

Either #2 or #3. /usr/bin and /usr/local/bin exist for that purpose, but some people prefer to keep personal scripts and such in home, maybe as part of a dotfiles repo or something, and so just add ~/.dotfiles/scripts or something to PATH.