Eh, a lot of people seem to think these things will fry circuits. Unless you manage to bridge a couple pins or contacts with it, it's not gonna happen...the current flows in one side and out the other.
That said, it's still garbage. All Electronics sells a like, 30 watt iron for $3.50, I have one of the same models lying around, it works quite well. If you can ignore the fact that the plastic handle gets very hot and burns your fingers, and that it might catch your house on fire if unattended for less than a minute, you can't go wrong with it.
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