I buy the CD-format, because in theory, I can do that anonymously (cash at the store). I don't buy the vinyl, because I explicitly want the digital format (see my reply to another comment on this thread as to why).
I rip the CD, because, well, my phone doesn't have a CD-drive (wow, that would be weird...).
At this point... I'd actually throw away the CD, because I hate having stuff. I don't care about showing off my collection to anyone, nor do I care about collectibles, but having stuff is just... cumbersome. But alas, I don't throw away the CD, somewhat because of sentimentality and also because if you have a physical copy of digital data, that's not a bad thing to keep, just in case, so ok, it stays.
Considering a vinyl is analog and also more cumbersome, I think it's pretty clear why I prefer the CD.
How about a floppy drive? https://www.youtube.com/watch?v=iT1l8Dcjb1Y