If your wanting to travel light,,and go somewhere you shouldn't then a money bag or pillow case,,,in a pocket,,,or in a little rucksack,,,so you look like a hiker,,,
As others have said there's no protection if you fall on it,,,,that said I never have,,,
Another thing you can do ,,,is put a small single box inside a rucksack ,,,my mate vin had one specially made for this,,,with the box opening at the front rather than the lid,,,,
It goes in the bottom of a rucksack,,,and there's a zip on the front of the rucksack,,,wich gets you to the box and the front of the box opens in to the z