JPEG
JPEGs are some of the most common file formats. They compress when you take a photo, and will store a lower quality photo. They can be shared and displayed almost anywhere and can easily be transferred through devices.
HEIF
An HEIF is one of the newest kinds of file formats. HEIF files are smaller than JPEGs, but have equal or increased quality. Unfortunately, HEIFs are much less compatible, few browsers able to process them.
TIFF
TIFF stands for Tagged Image File Format. TIFFs are commonly used in the photography industry and are often very high quality. They are uncompressed and take up lots of space, so they are not compatible with all browsers.
RAW
RAW files are files that store all information captured by the camera when the photo is taken. This makes them easily editable, although RAW files cannot be displayed on browser or desktops, and a special processing software must be used to view them.
PNG
PNGS are files that were first created in the 90s as an improvement on GIF files. PNGs are small but are high quality, making them very useful on the internet. JPEGs are smaller than PNGs, so they may be more commonly used.
GIF
Similar to PNGs, GIFs are great for the internet. They are compressed small but do not lose any quality. They also allow for animation but do not support a large color palette.
PSD
PSD files are used in adobe photoshop. They can store several image layers without effecting the original photo. This makes PSDs very good to edit.