Should I do my own database backup in addition to the DO's automatic backup?

I run a small LAMP stack application, and I would like periodically back-up my database in case the physical machines hosting my droplet goes down.

If I enabled the automatic backup provided by DO, should I run my own daily backup utilities in addition to that? My current thinking is like this:

1. even I run my own backup utilities (e.g., mysqldump etc), I probably run it nightly every 24 hours, so I have not seen the additional benefit than relying on the daily automatic backup offered by DO
2. on the other hand, I heard ppl saying ‘you must run your own backup to avoid putting all the eggs into one basket’

Any comment and suggestion on this?

Thanks, Sean