Cloud storage - Pros and cons?

My ‘cloud’ is a hot plug SATA drive I insert into the SATA slot for backup. That’s fast and secure (because when being removed after backup it can’t be damaged by over voltage) For additional security from time to time I back up to a second SATA which is stored at my parents home (and vice versa). So if one home burns down, there’s still some not too old backup available for both.