If I have file versioning turned on to keep the last 10 versions of files, what is really the point of running backups? Also, if a file is accidentally deleted and NOT in the recycle bin, am I to assume that I can just restore the previous version somehow? If so, where do I see the previous versions?

Also, if 10 versions of each file is kept, does that mean I need to have 10x the amount of storage available?

I'm confused

>>> If I have file versioning turned on to keep the last 10 versions of files, what is really the point of running backups?

File versioning allows you to roll back to an older version (in case of accidental overwriting). However, if you delete a file and purge it, then all versions will be deleted.

With Cloud to Cloud backup, the backed up files will not be deleted even if you delete the source files.

>>> Also, if a file is accidentally deleted and NOT in the recycle bin, am I to assume that I can just restore the previous version somehow?

If you delete a file, the file will be moved to the Recycle Bin folder first, and will be automatically purged after 14 days. If you purge it from the Recycle Bin folder, or if you use Shift-Delete, then the file will be "purged". Once a file is purged, you cannot restore the file by yourself. However, within 3 days, you can contact DriveHQ support and we can restore it for a fee. 

For better protection, we recommend using our Cloud-to-cloud backup feature. The feature is free, but may cost you more storage usage. 

>>> where do I see the previous versions?

You can right click on a file in DriveHQ FileManager to access the file history; if you use a browser, you can click the Action column and select History in the popup menu. 

You can also change your account settings to "Show Hidden / Old Vesion Files" on www.DriveHQ.com. You can then see the old version files in DriveHQ FileManager / DriveHQ.com website.

>>> if 10 versions of each file is kept, does that mean I need to have 10x the amount of storage available?

Statistically, in most cases, it will use additional 20% to 50% of storage space, dependent on how you use it.  Large files such as image, video, EXE, zip files tend to have only one version. If you edit a word document again and again, it will have 10 versions, but a word file is usually small and will not use too much storage space. If you have old/archived Word/Excel files, they will only have one version.

In some special cases, it will indeed use 10 times of storage space. For example, if you back up a large database file everyday, and if you only have this file. In this case, you can reduce the number of versions from your Account Options page on www.DriveHQ.com.