Yes. That is probably the most popular selling point of the cloud. And the fact that you don’t have to use up all your own internal and expensive external memory storage. But the thing is, you can only access your data while online. And there have been some security issues. Google “Cloud Security Issues”.
If you’re not posting anything sensitive, such as government ID docs, docs with passwords, professional licenses, Credit Card numbers, Passport ID pages, Drivers Licenses, Social Security card images, mortgage docs, Birth Certificates, Nuclear Codes, you and hubby in flagrant delicto, etc., and you aren’t an international spy nor intend to be under investigation by the FBI, you should feel quite safe.