Instructions
Right-click on any tree while holding your axe to create wood. The amount of wood created is dependent on the size of the tree. The larger the tree, the more wood can be cut down.
Right-click on your crafting table to open the crafting window.
Place two pieces of wood into any location on the crafting grid. Eight wooden planks are created.
Place one wooden plank in every slot in the crafting grid except for the center. A chest is now created.
Press "I" to open your inventory and select your chest.
Right-click on any empty location in the game world to place your chest.
Right-click on your chest to open it. Your inventory screen also opens below the chest. Drag and drop any items from your inventory to your chest, such as your axe. Any item in the game can be stored in a chest.
Press "Esc" on your keyboard to close the chest.