It didn't convert anything for me when I signed up, just synced between my computer to my phone. I do have all my music backed up to my external hd just in case though.
Thanks! I’m just concerned about files that I ripped the audio from videos and imported into my iTunes library. I want to sign up for Apple Music, but I’m worried those types of files will get lost or converted along the way.
The only issue I've had is if I decide I don't want something in my library and I hit "remove download" from my computer it will delete the files from the folder that iTunes points to, which is one of the reasons I backed up everything. Though if you "delete from library" it gives you the regular option to keep the files. But otherwise I haven't seen it do anything to my actual files that I didn't tell it to do.