lindex exchange transter

[tulpaSongMaker]

Hi. I simply wanted to purchase some lindens. I mistakenly bought them via the Lindex exchange instead of just purchasing them to show on my SL account. I can see I have a balance showing on the Lindex exchange of $49.15 and have clicked the process credit button, thinking this would cancel the exchange. It is just sitting there a week later or more. How do I get this balance moved over into my regular SL spending balance, as it were? Can anyone help? I think I am a Bear of very little brain so take it nice and easy.....lol

[Rolig Loon]

There is only one balance assigned to your account, so it doesn't make any difference whether you perform transactions in the LindeX, through  your viewer, or in Marketplace through your web browser. The transactions all affect the same balances in your account.  Therefore, it does not make sense to say

22 minutes ago, tulpaSongMaker said:

I mistakenly bought them via the Lindex exchange instead of just purchasing them to show on my SL account.

When you want to buy L$, it is generally smartest to buy directly through the LindeX, as you have.  Your viewer can be slow to recognize that your account has changed, so you may occasionally even need to wait until relogging for it to update.

You cannot have a USD balance in your account unless you have sold L$, which is not possible if you have been in SL for less than 8 days.  If you have been around longer than that and sold L$, then you may transfer USD to your PayPal account with the Credit Transfer option to take the money out of SL. 

[tulpaSongMaker]

Thanks for your help. I have been in L for longer than 8 days, that refers to when I initated the purchase of Lindens via the Lindex exchange. It states Currency Exchange USD exchange $49.15 but in my available balance it reads zero. Perhaps the process credit takes longer than I thought. I don't want to withdraw the balance to my paypal account, but rather to my 'spending' available account. All very  confusing, for me, at least.

 

[Rolig Loon]

It sounds like you have done something that you didn't intend. You should not have a USD balance at all unless you sold L$ on the LindeX.  If you are hoping to have L$, you should not have done that, and you should not now be trying to process a credit transfer to take your USD out of SL.  All you have been doing so far is costing yourself a lot of money in fees for buying and selling L$.

To be clear, when you bring money into SL, you are buying L$.  You are not depositing USD in your account.  The L$ are available immediately for spending in world or in the Marketplace. If you turn around and sell the L$ again to put USD in your balance, you will no longer have L$ to spend.  You can't have it both ways.

Processing Credit means "taking my USD out of SL to my PayPal account."  I have no idea why you are doing that.

[Lindal Kidd]

1 hour ago, Rolig Loon said:

When you want to buy L$, it is generally smartest to buy directly through the LindeX, as you have. 

I take a minor exception to Rolig's comment here.  You can ONLY buy $L through the LindEx.  However, there are at least three "portals" into it.  1) The LindEx link on your Dashboard page, 2) A "Buy $L" link in the SL Marketplace, and 3) a "Buy $L" button in the viewer in world.

The link on your Dashboard page gives you two buying options, the Instant Buy and the "Best Rate" (Limit) Buy.  A lot of people get in trouble with that second one.  See, when you place a Limit Buy order, you are offering to buy XX amount of $L at an exchange rate of YY $L per $USD.  For example, I might offer to buy $L10,000 at a rate of $L260 per $1 US dollar.  That order will only be filled if and when a) someone, or several someones, are willing to sell at that price (i.e., the exchange rate moves to 260:1), and b) all the other orders at that rate ahead of mine have been filled.  Depending on what rate you are offering, you could wait hours, days, months, or years for those conditions to be met.  For more on this, see my blog post "Trade $L Like a Pro".

While you are waiting, LL has charged your payment method and placed the money "in escrow".  You can see that, if you look at your $L Order History and check "Open Orders."  You can't use that money as long as your order remains open. 

BUT, if you get tired of waiting, you can cancel an open order.  The money then goes into your $USD Balance.  You can then place another $L buy order (I suggest using the Instant Buy option) and money from your $USD Balance will be used to purchase $L.  Or, if you decide you need the money for Real Life groceries, you can do a Process Credit transaction to move money from your $USD Balance out to your PayPal account.  (EXCEPT:  You cannot "launder" money with this process.  That is, you can't just buy $L, then sell the $L, then take the SAME money out of SL in a Process Credit transaction.)

Edited April 23, 2018 by Lindal Kidd