It is possible to be your own registered agent. You could also choose to elect a member of your LLC, or even a friend you trust, as long as the person meets these requirements:
is 18 years or older
has a physical address in the state where business is conducted
is available (in person) during normal business hours
Another option would be to hire a professional registered agent service. One of the disadvantages is that it is more expensive than acting as your own.
However, using a registered agent service helps you avoid any fees or further legal trouble caused by missing or misplacing an important document or notice. This can actually save you more time and money in the long run.