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The external storage device you purchased is formatted NTFS, the native file format for Windows PCs. Your Mac can read the NTFS format but it can't write to the drive or delete files from it. The Paragon Driver for macOS can give your Mac full read/write access to your Seagate NTFS-formatted drive.
Connect your Seagate storage device to your computer and you’re ready to back up your important files and folders. The fastest way to back up is to select items on your computer and copy them to your drive by dragging and dropping. If you want to make sure your data is continuously backed up, you can easily create an automated backup plan.
Time Machine is an automated backup feature built into your Mac. For details, see this Apple support article.