Colors: the deeper the better?

When converting images with ImageConverter Plus depending on the output image format there are several color depth options available. Different image formats support different color depth values, and developers of ImageConverter Plus strive to make the software able to support each of their variations. Different color depth options are intended to achieve optimal quality for different intended uses. It is not necessary to choose the deepest value of the color – sometimes it makes sense to change it for a lower level depending on your project and the image format preferred. Color depth identifies the number of bits per pixel that can be seen on the computer monitor. Data is stored in bits. Each bit represents two colors because it has a value of 0 or 1. The more bits per pixel, the more colors can be displayed. For example, 1 bit-per-pixel means monochrome (2 colors), 4 bits-per-pixel means 16 colors, and 8 bits-per-pixel means 256 colors. Computers nowadays display about 16 million colors. PNG supports all color depth values. Some file formats restrict the number of colors to not more than 256 like GIF that has a color depth of 8 bits per pixel or less. JPEG supports millions of colors and can support up to 24-bit color depth, yet compresses data to keep file size small.