If you are creating a hotspot with your pad ( or your I phone or other smartphone with hotspot capabilities) then any device that uses wifi can get to the Internet using that connection. So, yes.
The downsides are
You will eat up your data cap that much faster.
The speed will only be as fast as your cell data connection. This may be particularly distracting if you are using a computer/ laptop, where you are used to wired LAN speeds.
You will be sharing that single data connection with whoever you have on your LAN, which may further erode the speed.