Wi-Fi and WiMAX are wireless networking technologies that use radio waves and have standards specified by IEEE. Wi-Fi provides short range connectivity using technologies like 802.11b, 802.11a, 802.11g and 802.11n. WiMAX is a wireless broadband technology that provides longer range connectivity using standards like 802.16 and 802.16e. Both have advantages like mobility and convenience but Wi-Fi has limitations in range and speed while WiMAX installations have higher costs.