The last major difference between local and cloud storage is how accessible they are. Cloud storage means your files are stored on somebody else’s server farm; you’ll need an internet connection to access them. If they’re large files, you’ll need a robust connection unless you’re prepared to wait hours or days for a download.
Local storage, of course, is always accessible — as long as you have it with you. If you travel somewhere without your physical storage devices, you’re out of luck.
The decisive factor here should be how frequently you’ll find yourself both without an Internet connection and in need of your files. If you don’t plan to open them outside of your home, office, or the coffee shop, you’re probably going to prefer cloud storage. But if you want to access your files in less networked places, you might need local storage.
One additional consideration is file sharing. If you often need to send files to people to whom you are not in close physical proximity, it is almost always easier to share files stored in the cloud. Since the file is already hosted online, all the recipient needs to do is download it. On the other hand, you will need to upload a local file before sharing it, which often means you’ll be putting it in the cloud anyway.
