Clarification on Storage Pricing and Setup for New Users

Hi everyone,

I’m relatively new to decentralized storage solutions and have been exploring Sia as a potential platform for my backup needs. The concept of decentralized cloud storage really appeals to me, but I’m running into a few areas where I could use some clarification, particularly regarding pricing and the setup process.

I’ve looked into the documentation and read about the renter-host marketplace, but I still have a couple of questions:

  1. Cost Breakdown: From what I understand, storage pricing on Sia is determined by hosts in the marketplace. However, are there any additional fees (like bandwidth, contract costs, or collateral) that I should factor into the total cost? A practical example of pricing for, say, 1TB of storage over 3-6 months would be super helpful.
  2. Choosing Reliable Hosts: With so many hosts to choose from, what are the best criteria for selecting reliable hosts? I’ve seen metrics like uptime, pricing, and location in the renter UI, but I’m unsure which ones matter most for a new user like me.
  3. Redundancy and Setup Tips: I understand Sia uses redundancy to ensure data durability. Does this mean I need to manually configure redundancy settings when creating contracts, or is it handled automatically? Any tips for configuring my setup for long-term backups would be appreciated.

I’m excited to start using Sia, but I want to make sure I set things up properly from the get-go and avoid common pitfalls. If anyone has practical advice, personal experiences, or even pointers to beginner-friendly guides, I’d really appreciate it!

Thanks in advance, and I look forward to learning from this community.

Regards

Emilialteryx