ETH – ETH2 the conversion?

Two part question:

Once Ethereum 2.0 goes live, how does the old ETH token that we all hold today get converted into the new ETH2 asset?

Also, Coinbase has just opened me up to deposit my current ETH into their staking rewards program. Do you feel there is any critical drawback in this?

Your advice is most certainly appreciated. -Cheers!