H1B visa expiring

Hello. I received my I-140 EB-2 approval a while ago. Since my H1B visa is expiring soon, I've been thinking about filing I-485. I've heard that I can get a EAD card with the I-485. Is this correct? Can I use the I-485 EAD to work? Are there any disadvantages of doing so?

I forgot to mention that I am from the UK.

Thank you!

to Mattie:

Yes, you can get a EAD when you file I-485 but your H1B will no longer be valid if you use the I-485 EAD to work.