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It's not explained very clearly and made more complicated by being charged hourly instead of monthly, but essentially there's a minimum charge of €5 per month, which includes 1TB of storage and about 1TB of bandwidth.

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That's not how I read it or what their example says. As I understand it, if you create a bucket and then delete it again within the hour, you only pay for one hour. I think the 5€/month is if you have active buckets the whole month, since it's less than if you actually had to pay for all the hours.

30 * 24 * 0.0081 = 5.83

28 * 24 * 0.0081 = 5.44

That's correct, that's why the hourly billing makes it more complicated. If you don't use cloud storage the entire month you only pay for the time you do use it, and you only get included quota proportional to the amount you pay for. The sum of hourly costs is capped at €5 per month, which is also how it works for their VPSes.

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