Virtual currency exchanges...

[leGustav]

This was my only way to actually get lindens, I just heard SL got rid of this stuff?

Is it true?

[Kenbro Utu]

It is true that LL got rid of Linden Exchanges.  You cannot sell Lindens and recieve cash payment for them except through the Lindex.  However, there are Linden Resellers where you can still purchase Lindens through various means. 

[Amethyst Jetaime]

Without going into all the details, which you can about here, the US Treasury Dept. Issued new regulations connected to the Bank Secrecy Act regarding virtual currency in order to curb fraud and money laundering.  LL is a US company and must adhere to the regulations.  Due to the regulations, LL was forced to shut down the TPE"s or face huge financial and criminal liability. 

Now LL has what they call a resellers program allowing some of them who meet the requirements to sell Lindens.  Here is a list of those approved so far.  Other former TPE's are applying for the program or preparing to apply. 

The lindex is the only place you can now sell L's for RL cash.  LL is working on the lindex to improve the service and give more options.

[oberon Zuta]

Here you can find a 'howto' to set PayPal as Billinginformation in Secondlifewithout to give Credit Card information (Charge minimum a amount of 25US$ on PayPal before u try to set as billinginformation)

 

Then u can easy buy L$ for better conditions by Linden Lab - LindenLab charge a fee of 0.30 US$ for each transaction.

 

For example 5/28/13:

Virwox: 1000l$ PayPal 5,12$

Anshex.com: 1000l$ PayPal 4.79$

LL: 1000l$ Paypal 4.05$ + transactionfee 0.30 US$= 4.35US$ (better conditions now already with this amount ..)

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Virwox: 2500l$ 11.99$

LL: 2500l$ 10.43 incl. fee)

[Eddy Bouvier]

Just to clear something; be honest about what you post.

Exchange rate on Virwox is usually better than on Lindex. Using the exchange rate of may 28th (252L$/US$) as in your example, you would pay:

1000L$ = 3.97 US$ + 3.9% fee = 4.12 US$  (you can get discount on your fee if you trade more often).

2500L$ = 9.92 US$ + 3.9% fee = 10.30 US$ incl. fee

[Madeliefste Oh]

You are even cheaper when you buy from Lindex with limited buy option. The disadvantage is though that you won't get your money immediately. But when you put your buy offer some days before you really need the L$, buying at Lindex is still cheaper.

[Perrie Juran]

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Madeliefste Oh wrote:

You are even cheaper when you buy from Lindex with limited buy option. The disadvantage is though that you won't get your money immediately. But when you put your buy offer some days before you really need the L$, buying at Lindex is still cheaper.

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Right now at $257L you would wait a very long time to get the order filled.  And even though it only shows outstanding orders for $877L @ 262 it may still take a while.  Why someone would sell at $262L when there are that many people wanting to buy at $257L would be kind of silly.

Right now a buy order at $255L would probably get filled in under 30 minutes.

 

Open Buy Orders at the Best 20 Rates
Exchange Rate	Total Remaining Quantity
L$257 / US$1.00	L$100,716,598
L$258 / US$1.00	L$103,027
L$259 / US$1.00	L$145,782
L$260 / US$1.00	L$119,132
L$261 / US$1.00	L$33,000
L$262 / US$1.00	L$877

[Abigail Merlin]

guess it depends on your definition for long time, I just bought 255648 L$ at 257L$/USD, took me 6 days so not all that long.

258 or more will likely never get filled because of the nature of the Lindex

[Perrie Juran]

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Abigail Merlin wrote:

guess it depends on your definition for long time, I just bought 255648 L$ at 257L$/USD, took me 6 days so not all that long.

258 or more will likely never get filled because of the nature of the Lindex

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I probably should have phrased that better.  Last time I bought at $257 it took seven days.

A few weeks ago I had a buy order in at $260 that after two weeks was still not filled.  I had to cancel and go with a lower price.

I should just park an order at $260 and see how long it takes.

[Abigail Merlin]

I can safe you the trouble, go to https://secondlife.com/my/lindex/market.php? and you see that it has been ages that lindex has moved outside the 247/257 spread so 260 will never get a hit.