I bought oh kindle paper white because he can read in the dark, it has wifi to download from internet. I have a cheap nook and its great for me but wish I had got the dearer one with the light. Similar to the kindle paperwhite but cheaper as you say. The file format used is epub and with the calibre program on a pc can convert to and from pretty much any format. I have a friend who is a complete technophobe and I load books for her , many from forum members .
whatever you buy invest in cover. They are about a fiver on ebay but are different sizes so you must order for the particular device.