OK so i can draw. but i don`t know what the different styles like OC and Chibi etc. Someone please help?!

Chibi is an obvious style. In fact many avatars would fall under these tendencies.
Chibi is about giving characters anthromophic baby characteristics. Think, larger head, larger eyes, smaller body and shorter limbs.
I've seen some guildlines if you'd like to draw in this style.

OC isn't really a style; OC stands for "Original Character". So, unlike chibi, OC does not have a style, unless you mean the front and back views of the character?

Unless you're talking about something I have no about? >.<

Chibi sometimes is also called SD - super deformed - http://en.wikipedia.org/wiki/Super_deformed

I suggest just starting to draw even without not knowing all these terms, because they are more like "art slang" than something very seriuos. By time you'll learn them and start noticing the differences. A good way to start is simply to look through the shop section and see how people name things :>

You'd probably be best off if you didn't head directly into any given style. It's often harder to branch out from a style than to learn how to draw your own way and then apply it outward to other styles. But if there's any other terminology you'd like defined, I'd be glad to help!

Personally, I do see a need to have your own style depending on what kind or artist you are.
I suppose if you are selling your artwork directly to the public, then yes you might want your own style.

Its ok to use another artist style to develop your own in the beginning. Just remember to take inspiration form EVERYWHERE. Not just anime but actual paintings, comics, graffiti, etc. Take a little something you like from many artist then decide what direction you want your art to go. Remember, art is always changing so always learn to embrace those changes and take what you can from that