Depends when you plan to decorate it ?
I would say wrap it tightly in plastic srap then put in the freezer..maybe just overnight or until you are ready.
The freezer has somekind of good effect to the cake b4 frosting. 
Its not necessary(for a regular cake) but I usually do. I usually bake the day before I decorate and the fridge helps keep it moist. It really helps cut down on crumbs if you are able to pop it in the freezer for an hour or two before putting icing on.
If you want to put the cake in the fridge, you'll need to wait for it to cool and then cover it really well. I sometimes freeze a cake so it's easier to tort, but it isn't necessary. If you're going to tort and crumbcoat the cake as soon as it's cool you don't need to chill it first (although it will cool the cake off more quick if you're in a hurry.) 
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