This tool reads your WAV file directly in the browser and encodes a MP3 copy, so there is no upload, no queue and no waiting for a server. It works on desktop and mobile.
WAV audio is uncompressed and very large, often 10 MB per minute. Converting to MP3 reduces files to roughly a tenth of the size for sharing and storage.
Keep the original WAV if you plan to edit the audio further, since MP3 is lossy.