Help With Lindens

[TonyMontana10121]

I noticed there are two ways to purchase lindens. One was the Instant Buy(Market Buy), and the other one was the Best Rate Buy(Limit Buy). Now MY question is for the Best Rate Buy option. If I raise the exchange rate. Say I want 40K Lindens but I only have 90 USD to spend. Can I do that with that option? I'm just a little confused. I hope I can.

[Madelaine McMasters]

Hi Tony,

The LindeX is an exchange for virtual currency between residents. It's highly unlikely that you'll ever find anyone willing to sell you L$40K for US$90. That's L$444 per US$. If you look here...

https://secondlife.com/my/lindex/market.php?

And select the 90 day view, you'll see that the exchange rate has never gone over about 263 or so and that it's trending down slightly. You can try to beat the market buy rate by a few points and you may have success if you're willing to wait, but the harder you drive your bargain, the less likely you are to succeed.

[Klytyna]

It's quite simple really, when you do a limited rate buy, you are in fact not buying at all, you are OFFERING to buy Lindens for Dollars at the rate you chose, for example 400 L$ to the US$.

Your offer sits on  the lindex until somebody is desperate enough or dumb enough to buy your US$ for 400 L$, which since the usual price hovers around the 250 mark, may well take a decade or two...
 

[Chic Aeon]

3 hours ago, TonyMontana10121 said:

I noticed there are two ways to purchase lindens. One was the Instant Buy(Market Buy), and the other one was the Best Rate Buy(Limit Buy). Now MY question is for the Best Rate Buy option. If I raise the exchange rate. Say I want 40K Lindens but I only have 90 USD to spend. Can I do that with that option? I'm just a little confused. I hope I can.

As I understand the system (haven't done it but no one seems to be answering -- you can set any rate you wan't but you may have to wait  awhile or a long time depending on the rate you set.  So it is sort of like offering to sell stock to someone at a certain price -- there may be no takers. It seems to be a gamble whether buying or selling and the further you get away from the normal price the more of a gamble it is. Hopefully someone who has done this can answer in a better manner.

 

 

[Dakota Linden]

On 6/17/2017 at 7:30 PM, TonyMontana10121 said:

I noticed there are two ways to purchase lindens. One was the Instant Buy(Market Buy), and the other one was the Best Rate Buy(Limit Buy). Now MY question is for the Best Rate Buy option. If I raise the exchange rate. Say I want 40K Lindens but I only have 90 USD to spend. Can I do that with that option? I'm just a little confused. I hope I can.

Hi Tony!

The Limit Buy option allows buyers and sellers to set their own prices. You can absolutely create a buy order for 40K L$ and set the price to equal $90 USD.  

However, the chances of that order ever being completed and you getting the L$ are very slim and your order may remain open in the system for a very long time.

The current exchange rate is 262/1 - that is 262 L$ per $1 USD, but the exchange rate for your purchase would be 444/1

Your order would remain open in the system until a seller is found who is willing to sell their L$ at the same rate as your asking price of 444/1

Edited June 19, 2017 by Dakota Linden
sneaky typos