However it does work with the 5V output pin on the nano, but i need to supply power using a digital pin so I can control when it's on or off.I got suggested to use a 3V to 5V boost converter board (Link here) to increase the voltage from 3.3-5 volts
but this works at 500mA. Will that damage my module in any way?
This makes no sense. If your Nano is running at 5 V (which it must be if it has a 5V pin, then the digital pins are also at 5 V. So why do you think that that you would be powering the SD module at 3.3 V if it was powered from a digital pin?I believe the SD modules will draw more current than the digital pin of the Nano can safely provide. You must be careful to never subject the Nano to its absolute maximum rating of 40 mA on the IO pins or you will damage or destroy it. 35 mA is the most I would ever consider drawing from the Nano's IO pin. So if you want to do this, you will need to control a transistor from the Nano's IO pin, and power the SD module through the transistor.The current rating of the boost converter only indicates the maximum current it can provide. You just need to make sure the number is sufficient for the current requirements of whatever you are powering from it.
I bought an SD card module off Amazon (Link here) and it says that I can input either 5V or 3.3V, but whenever I try to input 3.3V with my Arduino Nano it doesn't work. However it does work with the 5V output pin on the nano