From the Blog

A HANDY GUIDE TO WHAT FILE TYPE TO USE- (jpeg, png, or gif?)

JPEG is best for: – Still (not animated) images – Photographs – Images with lots of colors – Shades of grey
PNG is best for: – Web images (like your website logo, or anything that needs transparent background) (PNG8) – Photographs with lots of colors, when a larger file size is ok. (PNG24)
GIF is best for:– Animated images

For more info: