Sunday, September 4, 2011

2013 BIZ: Are Linden dollars just play money?

Are Linden dollars just play money?
Yes and no.  You can buy Linden dollars with real dollars.  And you can exchange Linden dollars for real dollars.  To see the approximate buy price, click on the BUY L$ button at the top right of your screen.
Click on the screenshot to enlarge
Standard viewer screen, right side
You will get an offer to sell you some amount of Lindens for a specified price in dollars (or possibly in your local currency).   You can cancel the transaction.  The exchange rate fluctuates, but is about 260 Lindens for a dollar (USD).  It will be higher on the buy side (when you are the buyer)   Of course, you can only buy Lindens if you have set up a way of paying for them.  Normally, this is with a credit card or with Paypal. 
You can also sell Linden dollars, but this is more complicated.  Here is information on that:
You may see offers to sell you Lindens at a low price.  These appear occasionally as multiple postings (spam) in the forums.  Some of these may be legitimate, but they look suspicious to me.  I always wonder if I could find them next week.  I have heard of lots of scams from things like this, where people paid for Lindens and got nothing.  Then they could not contact the people to complain or ask for a refund. 
On a few occasions, people using these source have gotten into trouble because there was some illegal activity involved, such as stolen Lindens or money-laundering.
The only safe way to buy Lindens, as far as I know, is directly from Linden Labs, through your account with  them.  
Don't accumulate a large number of Lindens under the assumption that you can convert Lindens into dollars. Test the entire route by making a small conversion.  

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