There are three ways that you can store files within Canvas, based on their intended usage.
Personal
Canvas provides this storage area as a place for you to store files either unrelated to courses (but perhaps necessary for your work) or files that may be used across courses that you are teaching. Personal files can be accessed by clicking on your picture in the brown tool bar on the upper left-hand side of Canvas and select Files.
Course
Course file storage is a files area specifically related to a course. You can limit student access within the Files area by locking files and folders. As well, you can create folders in the Files area for easy viewing and access.
Group
If you choose to use groups in your course, an area will be created for students in each group to store their files. The members of each group can use their group’s storage area to share files and information that may be needed for a course paper or project that is not included in the course’s content. View access is limited in Group files; only member of the group and the course’s instructor can access any files stored within this area.