What happens if I set my phone to 2G?

I have had low signal since the merger with Sprint, and per one conversation on here I went through the Signal issues/no service troubleshooting steps.  When I tried setting my phone to 2G only, my signal went up considerably.  But will that compromise my phone’s performance in other ways, such as in security or in getting data when I’m not in a WiFi area? I have a Motorola moto G7.