During their testing stage Windows Live SkyDrive offered only 1GB of free storage to all their members. Now they have increased the space up to 5GB of free storage. You can upload all your music, documents and videos all for free. Many of the people who use this service are using it as a backup online storage.
your uploading and downloading depends on your internet connection, but I personally tried the service and i loved it. The uploading was extremely fast. The only requirement in order to use their service is you have to have msn, hotmail ID.
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