My concern with using a cloud AV like Panda, even though PCMag now rates it as the best of the free products in infection prevention, is that what happens if the cloud servers go offline? That could occur due to technical or hardware problems, power outages, or targeted attacks by hackers. You would have no protection if it happened.Like everything in the Internet...
There are redundancy and backup, but you can have a blackout of security.
I'm not an advocate of Panda Cloud, but it is good to have a wide variety of FREE av's, fw's, as's & other security apps.
I like to keep informed & sometimes try other security softwares.
That said, Panda Cloud does have off-line protection, I don't know the extent of it.
Panda's forum can't be read without joining.