For those who are still hesitant to move forward with a NAS solution in their home (especially if they have a family), I recommend doing so, particularly with this specific model. I recommend it from almost every perspective, and I say this as someone who was also "difficult" about doing something similar.

Everything one might want from a shared file usage solution, by everyone they want, with the assurance that their files will be under their control and in their own space (not cloud)... all this and much more can be done much more easily than one might have imagined, and in a very fast and relatively simple way, by using a NAS in their space, especially a Synology, and why not, this specific model that respects its role and facilitates everything safely and without a tragically high cost. There are, of course, cheaper NAS solutions, but noticeably inferior, and that's why I suggest not getting involved with them and getting entangled. Let me remind you here that one can "create" a NAS (if they know how) in other ways, e.g., even through one of their computers. However, I still do not recommend it, as it automatically changes the whole approach to having a convenient, fast, and tested NAS, as all these play a major role in usage and should be seriously considered before getting into DIY adventures.

The only thing I somewhat "regretted" about my choice of this specific model (but again after a few years of using it) is that I underestimated (before buying a NAS) how useful it would be to have a model with the capability of (at least) two internal slots for disks (and thus not just one as this one is). I realized it somewhat late, to be honest, as now that I understand how useful a personal NAS is and, consequently, how serious it is to be able to accompany it with the convenience of automatic backup of its disk contents (thus on a 2nd disk, e.g., with RAID 1), now I feel the limitation I have since I cannot do it with this model (as it only accepts one internal disk).

If I had to decide again for a NAS solution now, I would go for the Synology DS224+, even if it costs about 150€ more than the DS118.

However, this does not diminish at all how good the DS118 is and how convenient it is, so I recommend it (especially as an entry-level) for someone to get into the goodies of NAS.

I bought this product for very simple use. I chose the model with one disk. The machine is AMAZING! Very fast, with many services. It seemed very easy to use and set up. It has a plethora of applications for setting up servers, mail, web, ftp, wordpress, apache, php, plex server for streaming, etc. Its management is very nice. Of course, you can create accounts and give access wherever you want. What I liked the most, since I already have a subscription, is the cloud backup, which I have on gdrive. It has the option for bidirectional backup, meaning that whatever you put on the NAS can be uploaded to gdrive, and whatever you put on gdrive won't be downloaded to the NAS, or whatever you put on the NAS can stay there but whatever you put on gdrive can be downloaded to the NAS. It has 2 USB ports where you can also connect a USB stick or disk. I tried an external one, but because it had bitlocker, it couldn't read its content, but it recognized it. Now I'm decrypting it to see if I can put it on and make it network-accessible through the NAS. I was going for the model with 2 trays, not for RAID, just to put 2 disks, but it seems unnecessary since they can be read through USB. I constantly read about its speed, I couldn't imagine anything more... responsive. I don't know what everyone means by speed, but the memory I see from the logs is at very low levels with the various services I have. I don't know how it will perform with other servers, but for file sharing, it's perfect. I believe that the simple model with 512 will immediately feel the impact as soon as you load a service, so I consider it the best affordable option

Attention!! It does NOT support hardware h265 transcoding with PLEX, only with its own ds video.
Now I'm running it with 720p h265 and the CPU is constantly working at 90% and the video loses frames at the beginning, then it stabilizes...
Unfortunately, PLEX only supports Intel processors for hw h265, so we have to go with the DS 218+ which costs 150 euros more :(
Of course, if you have a new 4K TV, transcoding doesn't matter because the TV can play h265 movies natively, so you have Plex Media Server with 5/5 stars!

Update 2: Plex beta for the ARMv8 platform that it uses has been released!! :D
https://forums.plex.tv/t/armv8-platform-alpha-testing-synology-and-qnap/275940

UPDATE!! I am increasing the rating. I contacted Synology support and they advised me to change the DNS server to Google or Cloudflare's server.
Now everything is working fine!!! Except for Plex.. that will take a little longer :D

I bought it exclusively for video streaming and I regret my money.. let's go through it:
1) Plex is not supported due to the new ARMv8 CPU it uses, but it is said to be supported in the future.
2) Its own media player (VideoStation) is a joke.. it doesn't download movie metadata, I can't connect and control it through the DS video app on my phone, it doesn't support Greek subtitles!!
3) QuickConnect, to access my files outside of home, doesn't work, it gives the infamous error "Network error occurred. Please check your DNS and network settings."

Nothing works out of the box for video streaming at least.. You have to be a network expert to be able to configure it to play. What a shame.. in the video reviews I watched before buying it, everything worked on its own.

Whatever I say about Synology's software will probably be an understatement. It is a complete operating system, simple for the average user, with many capabilities (additional packages, etc.). What I really liked is the easy way to access the machine from anywhere, with its own dynamic DNS. You simply give it a name and you have direct access to myname.synology.me:5000. This way, you can manage your files, start a torrent, listen to your stored mp3 files, etc. from anywhere. Another great thing is that the smart TV recognized the disk immediately and plays movies smoothly from there. This particular one has only one disk, so I don't know how it handles RAID, etc., nor have I dealt with setting up backups yet. It does have several options for that, though. Either on a USB disk on the Synology, another network disk, or in the cloud (e.g. Google Drive). The speed of the machine is more than sufficient for relatively simple functions that I have tested so far. The file transfer speed from the local network is very high. I transferred large files to its disk with a steady speed of 110 MB/s, while with an older NAS, it didn't exceed 35 MB/s.