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Can I create an encrypted Time Machine backup on a SoftRAID volume?

Encrypting Time Machine volumes requires SoftRAID 7.0.1.

With the introduction of macOS 11, Time Machine volumes must now be APFS formatted. SoftRAID 7.0.1can now create APFS volumes so you can once again use SoftRAID to create and manage your Time Machine backups when running macOS 11 or later. With SoftRAID 7.01 or later, you can enable encryption on your Time Machine volumes.