Also, Using it for the purpose you want to as a storage space, it formats the drive and deletes all the current data on the drive. Not the way you want to do it as a storage drive for any files or images.
Just plug in any drive and format them quick NTFS one time and restart PC and use them any way you want. Usually less options using a thumb drive compared to a USB HDD. But pretty much the same for both
You can just use file backups or create a system image >> A MUST anyways and back up your files or image to the external drive. I would not use storage spaces.
Control Panel\All Control Panel Items\Backup and Restore (Windows 7)
With system image, back up C:\ OS, WRE and EFI (if you have EFI)
This is for windows 10 also.