What is the difference between Symmetric and Asymmetric encryption?

Basis of Comparison
Symmetric EncryptionAsymmetric Encryption
Encryption keySame key for encryption & decryptionDifferent keys for encryption & decryption
PerformanceEncryption is fast but more vulnerableEncryption is slow due to high computation
AlgorithmsDES, 3DES, AES and RC4Diffie-Hellman, RSA
PurposeUsed for bulk data transmissionOften used for securely exchanging secret keys