forgive me if this was already covered. question about the lindex

I tried searching forums but always get lost
I have always done the simpliest way of purchasing lindens, be it in the lindex or slexchange


now my question is what exactly are the other options? both in buying and selling...

and please, DO treat me like a 5 year old and explain it as though you were explaining to a child... I am clueless about any kind of stock market, money exchange etc...

I really would like to know how this all works, what is the best way to buy and sell?

pros and cons?

i use the buy/sell limit options on lindex (limit buy and limit sell) I haven't actualy tried a third party site and there are now tons of them the problem with third party sites is that it seems or so I am getting the impression is that some of the lindens being sold are stolen. I saw a few posts by people buying lindens from ebay and getting banned (stolen lindens etc) and another couple of sites can't remember the names.

So for me since all sites really have no regulation to speak of right now I stick to Linden Labs lindex cause it seems safer to me. Even the more well known ones its hard to know there is a risk API in place yet you hear of bannings so I'm not sure how it all works. Even someone that has passed the risk API can sell stolen lindens so its all kind of wishy washy to me.

google buy lindens to get an idea of just how many sites there are out there its a lot

still did not answer my question but thanks for replying, at least I do not feel totally ignored hehe

not sure what other question is in there and sorry everyone is busy debating the "what ifs" a lot so it gets lost sometimes

only two ways to get lindens in the game
earn them or buy them

earning them usualy means running some sort of business
buying them is lindex or a third party site

pro's and cons

not sure what else to say
i talked about buying lindens because this is the only real thing you asked about you spoke of two exchange systems

slexchange is a third party system which i dont use
lindex is owned by linden labs and as such even though its a bit slower I consider it safer
prices for buying and selling lindens vary but they are best on the lindex although a lot of other sites don't show much difference

pro's and cons of making content or some other ingame job ?

I can't think of many cons
I can think of pro's its fun and it helps you to make lindens without digging into your wallet

You have two kinds of buys and two kinds of sells: market/limit buy/sell.

Someone has L$10k and puts that up for sale as a limit sell, which means they pick the exchange rate they want their L$ to sell for, namely L$266/$1.
That limit sell order will just sit there, waiting for someone to come along, interested in buying (for simplicity's sake, assume there's just that one order on the whole LindeX ).

You come along and buy L$6k worth, which by default is a market buy, meaning you're willing to pay whatever exchange rate that are open orders for. In this case L$266/1.
The seller gets your US$, and you get L$6k, leaving L$4k in the seller's order.

Now imagine that a second seller came along, and put up L$5k up for sale at L$267/$1, undercutting the existing seller. When you do your normal, market buy order, you'd get L$5k worth at L$267/1 and L$1k worth at L$266/1.

A market order is always directly filled by available limit orders in order of best deal to you (so for buying that means from high exchange rate to low, for selling it means from low to high).

If you want the maximum amount of L$ for your $, then you place a limit buy order, which means that you pick the exchange rate you'll get for your order, rather than be stuck with the market rate which favours sellers, not buyers. Depending on what rate you pick to buy at, your order will sit there for a few seconds or minutes, to days, or forever.

Step-by-step:
https://secondlife.com/account/currency_settings.php : change LindeX settings to advanced
https://secondlife.com/account/manage_balance.php : put some US$ on your balance (minimum $25)
https://secondlife.com/currency/buy.php : scroll down to "Open Buy Orders at the Best 20 Rates ". For the last few months it's always been a few million stuck at L$277/$1, so if you want to get a quick buy, scroll back up.
In the limit buy: Quantity - 6817 ($25 worth, adjust as needed); Exchange Rate - 277 and click buy

Your order should fill in a few minutes and comparing to a market buy you would have gotten 6570, or about L$247 less. It's up to you whether that's enough to bother with or not .