Summary: I did about a month worth of research on portable hard drives. I do not have a usb 3.0 on my laptop but figured why not go with an upcoming technology for a few extra bucks. Anyway, the drive arrived on time, installed super easy and is fast even on the regular usb 2.0. I am using the storejet backup software (very simple and easy to understand) from Transcend that you can download if you choose and it seems to work fine.
Summary: Just a note to those buying this for Macbook or Macbook pro, there's 2 usb cables one for transferring data and another for power supply I suppose. So if you're connecting them to the laptop, there won't be any space for your other devices. I noticed that the laptop will immediately stop the usb that is for power supply as its eating too much power, so I improvised with connecting that usb cable to my phone charger one.