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The price of storage devices

The price of storage devices (SD cards, hard discs etc) is so low nowadays that I can't find a good reason why I should have to pay a monthly subscription in order to keep my backup in the cloud.
I bought for instance a 200 GB SD card for my smartphone for 30 euros. I can transfer this card to any device but it is not needed because I have already similar size storage on each and every device.

An 1TB SATA hard disc ( these are more reliable for backups) on the other hand costs around 60 euros and will last for many many years if you use it just for your backups. You can even use it as an external storage device and connect it with a usb on your pc.

The main disadvantage of cloud backups aside of the relatively limited storage that can be upgraded in a higher price, is that all these services require a working broadband connection in order to access the backuped files.
Something that can be a problem if your pc or your devices are dead for any imaginable reason.
And why at the end of the day rely on other people's storage if you can set up your own?

Cloud storage is actually a storage at somebody else's computer ( no matter what is the size of this computer).