Files having extension .BMP represent Bitmap Image files that are used to store bitmap digital images. These images are independent of graphics adapter and are also called device independent bitmap (DIB) file format. This independency serves the purpose of opening the file on multiple platforms such as Microsoft Windows and Mac. The BMP file format can store data as two-dimensional digital images in both monochrome as well as color format with various colour depths.
WebP, introduced by Google, is a modern raster web image file format that is based on lossless and lossy compression. It provides same image quality while considerably reducing the image size. Since most of the web pages use images as effective representation of data, the use of WebP images in web pages results in faster loading of web pages.
You can also convert BMP into many other file formats. Please see the complete list below.