DEFINITION
JPEG
JPEG is the default most cameras set as their output. And they get compressed once the photo is taken and the size of the photo is a lot less than other formats so easier to store a lot a photo.
HEIF
Newest file type in the list. These files are smaller than JPEG but offer better quality. The only thing is, is that they are way less universal.
TIFF
“Tagged Image File Format”, One of the files used for the photography industry. TIFF has zero compression and are a lot bigger and do take up a lot of space.
RAW
These files store information. RAW has a very good high quality photos and Extensive post-processing options.
PNG
It was designed in the 90s high-quality PNGs don’t require lots of storage space unlike other files
GIF
Perfect for internet use. GIF files can only contain a maximum of 256 colors. And these files can contain animation
PSD
Once this file is edited, it can be saves as any other file. PSD is used by Adobe Photoshop to save data