Centralized finance is how cryptocurrencies were originally bought and sold. By exchanges owned by a central group or person, an individual would buy the cryptocurrencies and sell them on the exchange. The centralized exchange manages the cryptocurrencies for the customer and also holds the keys to any crypto on the exchanges.

Centralized finance requires the crypto exchange to purchase, sell, and trade

Crypto assets are more vulnerable on exchanges in centralized finance because of the custodial factor of the exchanges. They have access to your crypto, and not you in this case.

Exchanges on centralized finance are mainly the only ways to buy into cryptocurrencies using fiat money, and are most commonly used for doing so.

Decentralized finance allows for the user to own their own keys to their crypto, allowing them to be the only ones able to send it anywhere or spend it anywhere.

Decentralized finance only relies on the specific technology.

It is much safer and cheaper to stake, or create more crypto using your current crypto, trade, buy, or sell using decentralized apps

Decentralized finance is most commonly used through the Ethereum blockchain using apps built on Ethereum and requiring transaction fees to make most transactions go through correctly.