Make a copy for listening and sharing
WAV files are often used for uncompressed or lightly processed audio work. MP3 is a lossy format commonly used for portable listening and distribution. A smaller listening copy can be easier to send or store, but the WAV remains useful when the recording will be edited, mixed, or encoded again for another destination.
A voice memo, music demo, field recording, and sound-effect library place different demands on the conversion. Spoken content may depend on clear consonants and quiet room tone; music can reveal changes in cymbals, reverb, or stereo space. Review the parts that matter to the recording's purpose.