Doc HM‑P2P/RAIL‑01 Protocol ESCROW‑P2P Rev 2026.10 Locales EN · BN · ES Operational

Peer‑to‑peer crypto marketplace

Buy and sell crypto with people, paid by bank transfer.

PaxLes is a marketplace, not a custodian. You pick a counterparty, the seller's crypto is held against the trade before any money moves, and it is credited to you when the seller releases it. No custody account in the middle, and no queue.

What this is
An order book of live offers from other traders. Each one names its rate, its limits and the payment gateway it settles through.
What you can do
Read every offer without an account. Sign up to open a trade, chat with your counterparty, and receive crypto into your wallet.
How to start
Pick a direction and an asset in the console, or take a row straight off the board below. Escrow does the rest.
Route console 5 open
Direction
BTC Bitcoin
Lowest ask
7 assets 2 gateways 5 routes open
  1. PRE Offer accepted You accept an open offer. The trade is created between the two of you.
  2. 00 Escrow funded The seller's crypto is debited and held as the trade opens. Their response window starts running.
  3. 02 Payment marked sent You pay on the gateway the offer lists, then mark it sent in the trade.
  4. GATE Seller checks the account They confirm what actually landed. If it did not, either side can raise a dispute instead.
  5. 01 Released The seller releases. The crypto is credited and the trade record closes.
Settlement path · 00 → 02 → 01 Clause 02 lists every permission at each state
Routes open 5 now
Assets listed 7
Settlement gateways 2
Reference rate 1 USD = 1,351.51 NGN
01

Route board

Live offers posted by traders right now. The rate is what they will accept, the limits are what they will trade, and the gateway is how they want to be paid.

 5 open

▮Open offers

bhella 4 completed
DOGE / NGN
98.93 NGN
10,000 – 10,000,000 NGN
Bank Transfer
7 months ago
key_peele 3 completed
DOGE / NGN
102.05 NGN
10,812 – 135,150,980 NGN
Bank Transfer
8 months ago
pcdesktop 1 completed
DOGE / NGN
98.93 NGN
10,812 – 135,150,980 NGN
Bank Transfer
8 months ago
bensiemens
BTC / NGN
102,771,737.99 NGN
5,000 – 110,000,000 NGN
Bank Transfer
8 months ago
key_peele 4 completed
TRX / NGN
432.27 NGN
3,000 – 1,000,000 NGN
Bank Transfer
8 months ago
Escrow is funded before any fiat moves Full marketplace
02

Every trade runs on the same five states

The settlement path at the top is the normal route: 00 → 02 → 01. Every cell below is a permission the code actually enforces, not a promise. If a box is empty, nothing in that state can move.

Ref ESCROW‑P2P
State Buyer Seller Platform
00 Open

Escrow funded — The seller's crypto has already left their wallet and is held. The response window is running from the moment the trade was created.

Buyer
  • Mark the payment as sent
  • Cancel the trade
Seller
  • Cancel, but only once the window has lapsed
Platform
  • No action available
01 Settled

Released — The crypto has been credited to the buyer and the trade is closed. Nothing further is editable.

Buyer
  • No action available
Seller
  • No action available
Platform
  • Records the settlement and the transaction
  • Both sides can leave a review
02 Awaiting

Buyer sent — The buyer has reported the payment and the seller is checking their own account. This is the only state where the release decision can be made.

Buyer
  • Cancel the trade
  • Raise a dispute, but only after the window passes
Seller
  • Release to the buyer
  • Raise a dispute straight away
Platform
  • Holds the chat and the payment record
08 Frozen

Disputed — The trade stops here. No release and no refund happens automatically — the platform has to act.

Buyer
  • Keep the trade chat open; no state change is possible
Seller
  • Keep the trade chat open; no state change is possible
Platform
  • Joins the trade chat
  • Then releases to the buyer, or refunds the seller
09 Closed

Canceled — The crypto and the trade charge went back to the seller's wallet. No fiat ever moved.

Buyer
  • No action available
Seller
  • No action available
Platform
  • Records the refund and the cancellation
03

What the rail connects

One side is crypto you can hold. The other side is money you can spend. Every offer states which gateway it settles through, so you only ever trade on a rail that already works for you.

Register A‑01

Settlement gateways

Available rails and the currencies they settle
Gateway Currencies Direction
Bank Transfer USD NGN Both
Paypal USD NGN Both
How an offer price is built

asset rate × fiat rate ± offer margin

Sellers shave the margin, buyers add it. Offers that set a fixed price use that price instead.
Platform reference rates
1 USD → 1,351.51 NGN
Indicative only, from the platform currency table. Offers quote their own rate.

Asset register

Counts are live offers, updated continuously Trade now
04

What holds the trade together

A marketplace is only worth opening if the stranger on the other side cannot walk away with both the coins and the money. These are the controls the application actually enforces, and the drawing is what happens to the seller's balance.

Figure 1
  • Locked

    The seller's balance is debited and the crypto is held before the trade opens. It cannot be withdrawn back while the trade is running.

  • Gated

    Release is one deliberate act: the seller pressing release once they have checked their account. There is no timer anywhere that pays either side on its own.

  • Timed

    Every offer sets its own response window. A seller can only cancel after it lapses, and a buyer can only raise a dispute once it has.

  • Frozen

    A dispute pins the trade at state 08, where nothing is released or refunded automatically. The platform joins the trade chat, then either releases to the buyer or refunds the seller.

  • Recorded

    The trade chat, its attachments, the payment mark and the final movement are all kept against the trade record. Both parties can leave a review once it settles.

  • Verified

    Identity verification gates the three things that move value: posting an offer, depositing, and withdrawing. Completed-trade counts stay on public trader profiles.

Escrow lifecycle The seller's crypto moves into escrow before payment. It is released to the buyer only after the seller confirms payment, or frozen and adjudicated by the platform if a dispute is raised. ESCROW LIFECYCLE SELLER WALLET ESCROW VAULT LOCKED BUYER WALLET PLATFORM ADJUDICATION LOCK RELEASE ESCALATE CRYPTO HELD SELLER CANNOT WITHDRAW IT RELEASED ONLY AFTER CONFIRMATION CREDITED TO THE BUYER WALLET SETTLEMENT PATH EXCEPTION PATH
Fig. 1 — escrow lifecycle, release and escalation Source ESCROW‑P2P
05

Reference

The questions people actually ask before their first trade, answered without the marketing language.

Docs 05
01 How do I buy crypto without an exchange queue?

You accept a live sell offer and a trade opens immediately — the seller's crypto is debited and held as part of opening it. You pay them on the gateway the offer lists, then mark the payment as sent. Once they have checked their account and released, the crypto is credited to your wallet. There is no matching-engine queue in between.

02 Is the seller able to take the crypto back mid-trade?

No. The crypto is debited from the seller's wallet as the trade opens and is held against it. The only ways out are the buyer cancelling, a cancellation permitted by the offer's window, or a dispute that the platform resolves.

03 Which payment methods can I use?

Whichever the counterparty accepts. Every offer states its gateway and the currencies it settles in — bank transfer, PayPal, or anything else a trader has enabled. Filter the marketplace by gateway and currency to only see offers you can actually pay.

04 Do I need an account to see offers?

No. The route board and the full marketplace are public. You need a free account to open a trade, use the trade chat, and receive crypto into a wallet.

05 What happens when a trade goes wrong?

Either side can raise a dispute while the trade is open. That pins it at state 08, where nothing is released or refunded automatically. The platform joins the trade chat, reads the record, and then either releases the crypto to the buyer or refunds it to the seller.

06 What is the reference rate shown on this page?

It comes from the platform currency table and is indicative. Individual offers set their own rate against that base, and that is the number your trade settles at.

Get settlement notes, not marketing

New assets, new gateways and platform changes. Sent only when something actually changes.

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