A bit set with a belt clip can be attached to the wall using this holder. That way, you can take out individual bits or if you have a larger job, you can take out the whole set.

Two 3 mm wood screws are used to attach it to the wall. The screws should be at least 30 mm long. 

The holder was designed for a Dewalt 32 piece bit-set but will very likely also work for other brands, as long as the clip is less than 30 mm wide.