A selfie is a kind of self portrait which is usually taken with a smartphone or a computer, but there are many different styles of self portraits besides a selfie. A self portrait is a picture, painting or any kind of defining work of yourself by yourself. They don't always have to be the old oil paintings your thinking of from the 1600's.
A selfie is easily replaceable and can be hundreds of them in your camera roll. If you mess up the picture or accidentally get rid of it, it takes almost no effort to make a new one. A self portrait has been done with a careful decision making process for each thing about it. You cant just replace a self portrait like a selfie, you would have to go through a process of trying to get it just as close to the last as possible.
I personally prefer taking selfies, they're easy to take and I don"t have to lift barely a finger to take one. They come out in great quality and I can take hundreds of them until I find the perfect one. I don't think I personally know anyone who is a fan of making self portraits more than selfies but it's all about preference , and about which one gives you the look you were going for.
A self portrait is usually more valuable than a selfie, but that does not mean that some selfies are worth nothing more than a few likes, but self portraits are made with tools such as paint or oil and out on a canvas with hours to days of hard work. I think that anything that is made is always more cherished and have more importance than something on a phone.
Here is a selfie of me :)