Is magic lantern safe to install.
In general, yes. However, as with any unlicensed software hack there is a small chance of error.
Magic Lantern boots of the SD card, so try Magic Lantern on a fresh card. If it works flawlessly, you're good. Prep all your cards. If you run into problems, just reformat any cards with ML to revert back to original firmware.
Is there any chance of bricking the camera?
Yes, there is a chance of bricking the camera. However, the odds of bricking your camera are well under 1%. usually bricking the camera involves not paying attention to the install and operations instructions. You have to do something pretty extreme (and stupid), like, say, turn on the camera then pull the SD card while the camera is booting up (i.e. while the camera is loading the OS). This really shouldn't be a concern.
Again... Magic Lantern does NOT uninstall or change Canon Firmware in any way. It runs off the SD card on bootup. I cannot say there is zero risk, because there is some risk, but the odds of something going wrong at all are well under 1%. The odds of doing anything to permanently damage your camera are so small as to be negligible. Magic Lantern has been around since 2009, and, if it wasn't a stable tool it wouldn't have been around for so long or been so popular.
NOTE: there is a way to install ML directly into the firmware of some cameras. Do not do this. Always boot ML from the card. Always keep at least one card without ML. This way if you do have an issue you can just change cards and reboot.
Read the ML page. Follow the instuctions. Make certain you are downloading the ML for the correct camera and make certain you've installed the most recent Canon firmware before adding Magic Lanter. You'll be fine. The Magic Lartern Wiki goes over updating your firmware and covers which camera models can run ML (and which version goes with which camera).
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