Privacy & safety · Keeping your files safe
Is Storage Studio a replacement for Time Machine or a backup?
Short answer: No. Relocating a folder moves your only copy to the external drive, so it isn't a backup. Keep Time Machine or use Data Backup or Backup Drive so a failed or lost drive doesn't take your files with it.
No. Moving a folder to your external drive relocates it — there's still only one copy, now on the drive. If that drive fails or is lost, files that live only there go with it.
Keep a real backup as well. Time Machine works alongside Storage Studio, and Storage Studio's own Data Backup can keep versioned, restorable backups of the folders you choose to another drive or a cloud account you connect. Backup Drive can also make a verified copy of your whole working drive onto a second drive.
See Data Backup.