Should I Let My 10-Year-Old Have An Instagram Account?

My 10-year-old, Jackson, has been asking for an Instagram account, and I'm really on the fence about whether to let him have one.

I feel like he is too young, and all these online predators worry me.

He does have a Facebook account, but I strictly regulate it.

He says a lot of his friends have Instagram accounts, but I tell him that just because his friends have one doesn't mean he gets one!

What do you think? Should I let him have his own Instagram account?