Second Life: Currency Trading
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PDF version of this article with images, is available for $2USD (contact me)
Ways to make money in Second Life: Currency Trading. Like real currency that you can hold, Second Life Linden Dollars hold real monetary value, which means the more you have, the more you can exchange into USD.
The idea behind currency trading is that you buy more for 10 dollars than you sell, so lets say you have 10USD, and you get 5000L$ for it, you then want to sell either 4000L$ back for 10USD making you 1000L$ or you want to sell the 5000L$ for 11USD. Either way that you do it, you’re making money.
There are aspects of currency trading that you must account for and it is for this entire reason that most people will never venture into it. You have to place an order for the currency, and then only once the market hits the value that you want to buy or sell for, will your order to be completed. Within a virtual economy like Second Life, this becomes something that you could be waiting a very long time for, if your orders are set to values very high or very low, because the Second Life economy is very stable and does not significantly fluctuate.
If you’re interested in the idea of trying this then you will need to learn how to place “Limit Buys” and “Limit Sells” within the Second Life Lindex. Instructions are as follows, and quoted from the Second Life Wiki.
“Limit Buy allows you to specify the amount of Linden dollars and the minimum exchange rate you are willing to accept. LindeX automatically matches up sell offers as they come in. In order to activate your option to perform Limit Buys, you must set your Linden Dollar Exchange Settings to Advanced. You must have sufficient US$ credit on your Second Life account to completely pay for the buy order.
1) Go to https://secondlife.com/currency/buy.php
2) Under Buy at a Specific Rate, enter both the quantity of L$ you wish to buy, and the exchange rate you wish to buy at.
3) Click Offer to Buy”
Reference:
Second Life Currency Trading Link
If your order is taking a long time then you may wish to cancel your Second Life limit buy or Second Life limit sell. You can do this by following the information below, which once again is quoted from the Second Life Wiki.
“You can cancel a Limit Buy Offer in progress on the LindeX: Transaction History page. You may wish to cancel a Limit Buy in order to alter your desired exchange rate, or if you change your mind about the amount of Linden dollars you wish to purchase.”
Reference:
Second Life Currency Trading Link