Disclosed herein are systems, methods, and non-transitory computer-readable storage media for performing in-place encryption. A system configured to practice the method receives a request from a user to encrypt an unencrypted volume of a computing device and identifies, generates, and/or randomly selects a volume key. Then the system converts the unencrypted volume to an encryptable format divided into portions. The system then encrypts, based on the volume key, the encryptable volume, portion by portion, to enable the user to use the computing device while encrypting. The system can maintain an encryption progress status and display the encryption progress status. The system can monitor disk accesses to the encryptable volume, and, when the disk accesses exceed a first threshold, apply a back-off algorithm to stop encrypting until the disk accesses fall below a second threshold. Thus, the computing device can be used while the encryption occurs in the background.