TERM
DEFINITION
JPEG
Instantly compressed photo when it is taken so it comes out a lesser quality
HEIF
Smaller files and slightly better quality than a JPEG
TIFF
They are used in the photography industry and can be converted to JPEGs easily. Very high quality
RAW
Original output by a camera, easily edited. Good quality
PNG
Versatile, can be used by all manufacturers and cameras
GIF
Good for internet, small files but pretty good quality, can only contain 256 colors.
PSD
Used by adobe photoshop to save data. Good if you want to extensively edit or manipulate your photo.