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Upgrade portal
The Upgrade Portal is recommended as the easiest way to upgrade an existing ANTv1 balance to ANTv2 if the wallet can be connected to a dapp.
First, navigate to upgrade.aragon.org:

Connect a wallet

Connect your wallet to see your ANTv1 balance and begin the upgrade process:
If you would like to double check your connected wallet or re-connect to a different one, click the "Connect to a different wallet" or the Account Module in the top-right corner:
Note that some wallets, including Metamask, may require further interaction with their own interface to re-connect with a different wallet.
Once your wallet has been connected, you should now be able to see your wallet's ANTv1 and ANTv2 balances:
If you have provided liquidity to any of the popular ANT liquidity pools on-chain, you will also be able to see those associated balances at this point.

Upgrade to ANTv2

Go ahead and smash that "Upgrade ANTv1 -> ANTv2" button to get started on upgrading!
You should now see this interface to select how much you'd like to upgrade:
Note that the ANTv1 to ANTv2 upgrade is one-way. The ANTv1 you choose to upgrade will be burned and an equivalent amount of ANTv2 will be returned to your wallet.
I'm going to go ahead and migrate all of my ANTv1 to ANTv2:
Continuing further, you'll now be prompted to sign the transactions that will facilitate the upgrade (may depend on your wallet):
Note that you may need to sign multiple transactions to reset your ANT approval if you've previously used the interface before or interacted directly with the contract using the currently connected wallet.
Once you've signed the transaction(s), you should now see the success screen:
🎉 Congratulations, you're done! 🍾
If you have other accounts holding ANTv1, you may now go back and repeat this flow.
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Outline
Connect a wallet
Upgrade to ANTv2