It is a type of whole volume encryption - it encrypts the whole drive.
I wouldn't, there are a lot of potential problems that can come up from it. There are a lot of simpler, easier ways to secure your stuff without the risk of bricking your system or getting errors due to locked data.
Is everything you do on your PC legal? Are there secrets that could potentially cause you loss of income if discovered? Trade Secrets? Really there is only one question you have to ask yourself -
Are you a potential victim of espionage?