CEX

A CEX (centralized exchange) is an exchange run by a company. You open an account, pass identity checks (KYC), deposit fiat or crypto and trade in the app. The exchange keeps funds in its own wallets and you see a balance on your account. In the European Union such firms need a crypto-asset service provider licence under the MiCA regulation.

A CEX makes it easy to buy crypto with fiat, such as SOL or ETH, which you can then send to your own wallet. New memecoins appear there rarely and usually late, because the exchange decides what to list. The downside is trust: while funds sit on the exchange you do not control the keys, and the account can be frozen.