Elementary central binomial coefficient estimates
Here are some crude bounds:
$${1\over 2\sqrt{n}}\leq {2n\choose n}{1\over 2^{2n}}\leq{3\over4\sqrt{n+1}},\quad n\geq1.$$
We begin with the product representations $${2n\choose n}{1\over 2^{2n}}={1\over 2n}\prod_{j=1}^{n-1}\left(1+{1\over 2j}\right)=\prod_{j=1}^n\left(1-{1\over2j}\right),\quad n\geq1.$$
From $$ \prod_{j=1}^{n-1}\left(1+{1\over 2j}\right)^{\!\!2}=\prod_{j=1}^{n-1}\left(1+{1\over j}+{1\over 4j^2}\right)\geq \prod_{j=1}^{n-1}\left(1+{1\over j}\right)=n,$$ we see that $$\left({2n\choose n}{1\over 2^{2n}} \right)^{2} = {1\over (2n)^2}\, \prod_{j=1}^{n-1}\left(1+{1\over 2j}\right)^{\!\!2} \geq {1\over 4n^2}\, n ={1\over 4n},\quad n\geq1.$$ so by taking square roots, ${2n\choose n}{1\over 2^{2n}}\geq \displaystyle{1\over 2\sqrt{n}}.$
On the other hand, $$ \prod_{j=1}^{n}\left(1+{1\over 2j}\right) \left(1-{1\over 2j}\right) = \prod_{j=1}^{n}\left(1-{1\over 4j^2}\right)\leq {3\over 4},$$ so that (using the lower bound above), we have $$ {2n\choose n}{1\over 2^{2n}}=\prod_{j=1}^n\left(1-{1\over2j}\right)\leq{3\over4\sqrt{n+1}}.$$
Alternatively, multiplying the different representations we get $$n\left[{2n\choose n}{1\over 2^{2n}}\right]^2={1\over 2}\prod_{j=1}^{n-1}\left(1-{1\over4j^2}\right) \,\left(1-{1\over 2n}\right).$$ It's not hard to show that the right hand side increases from $1/4$ to $1/\pi$ for $n\geq 1$.
Edit: You can get better bounds if you know Wallis's formula:
$$2n\left[{2n\choose n}{1\over 4^n}\right]^2={1\over 2}{3\over 2}{3\over 4}{5\over 4}\cdots {2n-1\over 2n-2}{2n-1\over 2n}={1\over 2}\prod_{j=2}^n\left(1+{1\over 4j(j-1)}\right)$$
$$(2n+1)\left[{2n\choose n}{1\over 4^n}\right]^2={1\over 2}{3\over 2}{3\over 4}{5\over 4}\cdots {2n-1\over 2n-2}{2n-1\over 2n}{2n+1\over 2n}=\prod_{j=1}^n\left(1-{1\over 4j^2}\right)$$
By Wallis's formula, both middle expressions converge to ${2\over \pi}$. The right hand side of the first equation is increasing, while the right hand side of the second equation is decreasing. We conclude that
$${1\over\sqrt{\pi(n+1/2)}}\leq {2n\choose n}{1\over 4^n}\leq {1\over\sqrt{\pi n}}.$$
For $n\ge0$, we have (by cross-multiplication) $$ \begin{align} \left(\frac{n+\frac12}{n+1}\right)^2 &=\frac{n^2+n+\frac14}{n^2+2n+1}\\ &\le\frac{n+\frac13}{n+\frac43}\tag{1} \end{align} $$ Therefore, $$ \begin{align} \frac{\binom{2n+2}{n+1}}{\binom{2n}{n}} &=4\frac{n+\frac12}{n+1}\\ &\le4\sqrt{\frac{n+\frac13}{n+\frac43}}\tag{2} \end{align} $$ Inequality $(2)$ implies that $$ \boxed{\bbox[5pt]{\displaystyle\binom{2n}{n}\frac{\sqrt{n+\frac13}}{4^n}\text{ is decreasing}}}\tag{3} $$ For $n\ge0$, we have (by cross-multiplication) $$ \begin{align} \left(\frac{n+\frac12}{n+1}\right)^2 &=\frac{n^2+n+\frac14}{n^2+2n+1}\\ &\ge\frac{n+\frac14}{n+\frac54}\tag{4} \end{align} $$ Therefore, $$ \begin{align} \frac{\binom{2n+2}{n+1}}{\binom{2n}{n}} &=4\frac{n+\frac12}{n+1}\\ &\ge4\sqrt{\frac{n+\frac14}{n+\frac54}}\tag{5} \end{align} $$ Inequality $(5)$ implies that $$ \boxed{\bbox[5pt]{\displaystyle\binom{2n}{n}\frac{\sqrt{n+\frac14}}{4^n}\text{ is increasing}}}\tag{6} $$ Note that the formula in $(3)$, which is decreasing, is bigger than the formula in $(6)$, which is increasing. Their ratio tends to $1$; therefore, they tend to a common limit, $L$.
Theorem $1$ from this answer says $$ \lim_{n\to\infty}\frac{\sqrt{\pi n}}{4^n}\binom{2n}{n}=1\tag{7} $$ which means that $$ \begin{align} L &=\lim_{n\to\infty}\frac{\sqrt{n}}{4^n}\binom{2n}{n}\\ &=\frac1{\sqrt\pi}\tag8 \end{align} $$ Combining $(3)$, $(6)$, and $(8)$, we get $$ \boxed{\bbox[5pt]{\displaystyle\frac{4^n}{\sqrt{\pi\!\left(n+\frac13\right)}}\le\binom{2n}{n}\le\frac{4^n}{\sqrt{\pi\!\left(n+\frac14\right)}}}}\tag9 $$
Assymptotic Observation
If we know that $n\ge n_0$, we can replace $\frac13$ in $(1)-(3)$ and $(9)$ by $\frac14+\frac1{16n_0+12}$. Thus, asymptotically, $$ \boxed{\bbox[5pt]{\displaystyle\binom{2n}{n}\sim\frac{4^n}{\sqrt{\pi\!\left(n+\frac14\right)}}}}\tag{10} $$
A way to get explicit bounds via Stirling's approximation is to use the following more precise formulation: $$n! = \sqrt{2\pi n} \left( \frac{n}{e} \right)^n e^{\alpha_n} $$ where $ \frac{1}{12n+1} < \alpha_n < \frac{1}{12n} $.
With this one arrives at $$ \binom{2n}{n} = \frac{4^n}{\sqrt{\pi n}} e^{\lambda_n} $$ where $ \frac{1}{24n+1} - \frac{1}{6n} < \lambda_n < \frac{1}{24n} - \frac{2}{12n+1} $.