Does the translator support a nano sim card? Is it enough to insert the same one or does it need a configuration? Can I use the one in my phone or do I have to buy a new one? If I use mine, does the translator also work as a phone? Are the translations real (understandable) or do they have false interpretations in translation?

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You don't need a SIM card, everything you need is included. Reviews range from very good to not working. On this unfortunately I cannot help you. I advise you to search the internet a bit and see what is being said. 
For some, the translations in certain languages are too rough, while for others they are fine. It also depends on what you expect.

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