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xemyn

How to withdraw money from Second Life?

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You also need to have a Verified PayPal account, which i think means that it needs to be connected to a bank account. Once you have connected your verified Paypal account, sold lindens, and sent the real cash to Paypal, there will be a 3-5 day delay before you actually see the money in your Paypal account. You can also have LL send you a check, but i think that has to be over a certain limit.

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See http://community.secondlife.com/t5/English-Knowledge-Base/Linden-dollars/ta-p/700107 for the first steps on using LindeX.  There are more details on the process linked from the LindeX pages themselves.  If you have never made a payment to LL, your account will be unable to sell L$ on LindeX, and you will need to make some sort of payment to LL to enable this (either upgrade to premium or buy a small quantity of L$, then wait 7 full days before you are allowed to sell up to US$300 of L$).  You can check your current LindeX trading limits at https://secondlife.com/my/lindex/describe-limits.php .

Alternatively, see http://wiki.secondlife.com/wiki/L$_Marketplace for alternatives to LindeX which may be of particular use if your home currency is not US$.  If you have LL tier to pay, however, LindeX may well be the preferrable option, as any US$ gained through there can be directly applied to tier, without having to take it to PayPal and back again.

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So if you want to cash out L's they are sold to people in sl not just cashed out and you have to wait for them to be sold ...if im reading that correctly ? (

Just tell us how many Linden dollars you'd like to sell, and the LindeX™ exchange will automatically match you with buyers.

Sell Orders may be partially filled: Your Linden Dollars might sell to multiple buyers, and not all at the same time, and will remain open until they're sold or you cancel the order. Proceeds are paid at the time of sale, less transaction fees.) ?

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4 minutes ago, MoonLiteShadow said:

So if you want to cash out L's they are sold to people in sl not just cashed out and you have to wait for them to be sold ...if im reading that correctly ? (

Just tell us how many Linden dollars you'd like to sell, and the LindeX™ exchange will automatically match you with buyers.

Sell Orders may be partially filled: Your Linden Dollars might sell to multiple buyers, and not all at the same time, and will remain open until they're sold or you cancel the order. Proceeds are paid at the time of sale, less transaction fees.) ?

You are replying to a 7 year old thread.  things change in that time but the basics are correct .  some knowledge base articles for you.  If you have further questions, its best to start a new thread for help

 

 

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1 hour ago, MoonLiteShadow said:

So if you want to cash out L's they are sold to people in sl not just cashed out and you have to wait for them to be sold ...if im reading that correctly ?

Take Cindy's advice and read those Knowledge Base articles.  The Knowledge Base is your best source for official (that is, "provided by Linden Lab") information.  As SL residents with many years of experience in world, the volunteers who respond to most of the questions on this Answers site can often give you examples and advice from personal experience.  So, if there are things you do not understand, come here and start a new question to get advice.

In this case, yes, you have understood correctly.  Linden Dollars (L$) are like poker chips -- tokens of no value outside of SL.  You can give L$ to other residents, and you can use them in world to pay for products or services, but the only way to redeem them for $US is to sell them to other residents through the LindeX.  Using any other method is strictly against the TOS, and can get your account suspended or banned.  When you want to sell L$, you list them on the LindeX using either the Market Sell option or the Limit Sell option, and you wait until the LindeX matches your order with other residents who are offering to buy L$.  Until you understand how currency exchanges work, and unless you are selling more than about L$10,000, I strongly advise using the Market Sell option.  It's simpler and much faster than a Limit Sell.   Once the sale is complete, the proceeds are deposited the USD balance in your account, where they can be used for paying for things like monthly land fees, or you may have them transferred to your PayPal account.

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Do read the Knowledgebase articles!

Simple summary:

  1. Open a PayPal or Skrill account
  2. Use the procedure on the PayPal or Skrill website to "verify" your account.  That is, you link the account to a Real Life bank account as a backup funding source.
  3. Transfer some money from your bank to your PayPal or Skrill account.
  4. Buy some $L.  (You have to have bought $L at least once in order to be able to SELL $L).
  5. Sell your $L on the LindEx.  The proceeds will appear in your USD balance.
  6. Do a "Process Credit" transaction to transfer some or all of your $USD from your SL account to your PayPal or Skrill account.  $10 minimum, and I recommend making one large transaction rather than several small ones, because of transfer fees.
  7. Wait a few days to get the money.
  8. Transfer the money from your PayPal or Skrill account to your Real Life bank account.
  9. Enjoy your profits!

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