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If it's 10x cheaper, you'd have to ask yourself is that only because it's a text only device or because the internals quality is 10x less as well? I've bought cheap Chinese electronics in the past (cheap MP3 player from Amazon) it lasted a month before it packed up.
You'd be better of getting a used dedicated e-reader in my opinion, here in the UK you can still get a Kobo touch, that apparently still supports reading books from Kobo (but not direct download) for the equivalent of $38.
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