MC stands for moving coil and MM stands for moving magnet. When a wire loop moves through a magnetic field, an electrical current is induced. An MC cartridge has a coil at the other end of the cantilever which moves through a fixed magnetic field as the stylus is dragged across the record. An MM cartridge has a magnet at the other end of the cantilever which moves through a fixed coil in order to induce the current. Because a coil with fewer windings will be much lighter than the magnet of necessary strength, an MC cartridge has a much lower effective tip mass and is more "agile". This means it will better respond to the more subtle detail in the records grooves.
The problem is that, in order to reduce the mass, it is necessary to reduce the number of windings in the coil, thus reducing the current that is induced. This means that moving coils require greater amplification to get the tinier MC signal up to line level. Translation: more money.
I agree that at a budget level, it will make no difference to you. If your preamp already has a built in phono stage, get whatever matches your preamp - it's probably, but not necessarily, an MM preamp.
Congratulations on your entry into the world of vinyl. I'm sure you'll enjoy it whatever cartridge you get.
The problem is that, in order to reduce the mass, it is necessary to reduce the number of windings in the coil, thus reducing the current that is induced. This means that moving coils require greater amplification to get the tinier MC signal up to line level. Translation: more money.
I agree that at a budget level, it will make no difference to you. If your preamp already has a built in phono stage, get whatever matches your preamp - it's probably, but not necessarily, an MM preamp.
Congratulations on your entry into the world of vinyl. I'm sure you'll enjoy it whatever cartridge you get.