Instagram for 4th Grade?

For the past few weeks, my 10 year old has decided that she needs an Instagram account.  Tonight, I signed up for one.  After seeing what it is like, I think that I will consent to one tomorrow as long as I control passwords and have full access.  I am more than a little apprehensive to allow her to dip her toes into the social media world.  Cyber bullying puts this generation at risk for losing a safe place.  I hope this is the right call.