Once you have made so many Lindens from your ventures in Second Life you may want to enjoy the fruits of your labor. Converting Lindens to dollars has been made pretty easy thanks to a couple of Linden Labs approved third-party currency exchangers. Linden exchange websites operate under a platform known as the Exchange Risk API to help with security checks on avatars. The Linden currency exchange bureaus work as to get Residents (participants in Second Life) the best rates based on the supply and demand of the Linden dollar.
There are different ways in which Linden exchange is conducted. Two scenarios are used by the many and best of the third-parties. The first is termed as Instant and is used mainly with beginner Residents. It requires no registration, Residents purchase Lindens or dollars directly, a flat exchange rate is employed, no initial deposit is required, and unless in unavoidable circumstances immediate payments are made. Trading is the name second method, and it is used by expert Residents to convert Lindens into dollars. It requires registration, Residents trade with each other at the Linden dollar market, there are variable rates, a deposit is required, and waiting periods occur due to the volume of trade going on.
The typical process of exchanging Lindens to dollars for a new customer starts with filling out a selling order on the third-party’s website. The customer further supplies the name of the avatar (residents interact with other via avatars) holding the Lindens and also the mode of payment they prefer. Upon submission the system sends a virtual wallet to the avatar. The customer has to be logged on as the indicated avatar for the process to work. Next the customer receives the wallet and uses it for future transactions. The customer attaches the wallet to the avatar and then the Linden amount will be sent to the third-party upon approval by the customer. The customer will then receive the real dollars within twenty-four hours of the Linden exchange. Some payment means such as wire transfer take one to two days. With payment methods such as PayPal though, the payment can be done in minutes.
In changing Lindens to dollars, the names and addresses of the applicant are collected, but this is done without necessarily registering with the third-party. With third-parties there are generally no limits in Linden exchange for cash or vice versa however the website of concern reserves the right to apply checks on persons and avatars. The exchange rates are not only subject to supply and demand of Lindens but also the current US dollar/EURO exchange rates.
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Article: Converting Lindens To Dollars At A 3rd Party Linden Exchange Author: Daniel Smith Publication Date: 2011-06-03 Total Views: 31 Word Count: 431 Category:Home /
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