Backups and RAID 5 or 10 for WD MyCloud PR4100 w/ 4x 10 TB NAS Red Drives?

I’ve read a good number of posts and articles and am not quite sure as to whether RAID 5 or RAID 10 would be the best choice for a Western Digital MyCloud PR4100 with 4x 10 TB NAS Red Drives. In addition to Plex, I would also like to run Transmission on the NAS for torrents.

I understand that RAID isn’t a backup solution, but currently I do not have a method to back up the server because getting another 40TBs would be way more than I’m wanting to spend. ElephantDrive is installed on the server, but it costs $10/month for only 1 GB of storage.

I see that RAID 5 would give me 30 TBs of space compared to 20 TBs with RAID 10. Would RAID 10 be the best choice without having a backup solution currently in place at least for the time being?

Are there any other options for backups that aren’t crazy expensive?

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