Powering up/down any circuit always isn't as nice as just keeping it running, as power-on and power-off moments stress all the power regulating components the most. That being said, you may kill the device if you keep powering it off and on every minute for some hours/days/weeks. From a device maker like Belkin/Linksys I would expect that they stress-test their designs to make sure they can stand at least a few thousand power-up/power-down cycles, so doing that once a day is within the expected usage pattern for this hardware and should be fine for some years.
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