Do you want to share your browsing history with Microsoft?
Microsoft has a long policy describing what data it collects and stores:
Microsoft Edge saves your browsing history, which is made up of info about the websites you visit, on your device. If the Diagnostics data setting is set to Full, this browsing history is sent to Microsoft, which helps us find and fix problems and improve our products and services for all users. If you choose to turn on Tailored experiences, we will use this browsing history to personalize your experiences with Windows and other products and services. Separately, if you choose to enable browsing history within the Cortana Notebook Permissions, your browsing history is also sent to Microsoft so Cortana can help personalize your experience.
eBook reading telemetry is also covered by Edge:
By default, and depending on the device configuration, Microsoft Edge gathers basic diagnostic data about the books in the Books Library and sends it to Microsoft. Enabling this policy gathers and sends both basic and additional diagnostic data, such as usage data.
Even by default, basic diagnostic data would be transmitted.
We recommend to disable this telemetry.