It is definitely true that you give control of your data to someone else, but conceptually an online storage service acts just like a bank - You give your money to a bank without thinking twice about it, and the same is true of online storage service companies.

Some are definitely more secure than others, and really, when you think about it, majority of your space isn't taken up by highly valuable documents like your social security number, bank statements, etc - Your space is taken up by media, which doesn't need to be super secure.

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