Can I use 50 Watts device on 500 Watts Power supply?

I have a step down powersupply that converts 220-240 V AC to 110-120V AC 500W output.
I have a device that uses 110-120V AC 53W as input.
Can I connect this device to the power suplpy without risking any damage to the device?
if not then
what should be the Specifications of the step down power supply that I should purchase?
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  1. Should be okay -- the 500watts is the limit of total current that can be drawn by devices fixed to the PSU.

    The 53 watt device will only draw about 10% of that.

    And the device won't be overloaded by the fact that the PSU could cope with more.
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