JPG: Its a file that contains JPEG photos. JPEG is a commonly used method of lossy compression for digital images, particularly for those images produced by digital photography.
PNG: or Portable Network Graphic, is a raster graphics file format that supports lossless data compressions. it is the most used lossless image compression format on the internet.
GIF: or Graphic Interchange Format is a bitmap image format that changes the photos to make an animation. It was created in 1987 by Steve Wilhite.
RAW: are files that are not processed and therefore are not ready to be printed or edited with a bitmap graphic editor.
TIF: a computer file format for storing raster graphics images. It was created by Aldus Corporation for use in desktop publishing.
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