Only show Previous & Next button in Pagination

If you don’t want to use pagination on your site, don’t use paginate links function. The right way to achieve this is to use next_posts_link() and previous_posts_link() functions. These output just the link to next/prev posts like you wished.

Check these:
http://codex.wordpress.org/Function_Reference/next_posts_link
http://codex.wordpress.org/Function_Reference/previous_posts_link

next_posts_link( 'Older posts' );
previous_posts_link( 'Newer posts' );

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