Introducing the New International L$ Marketplace

It’s astounding that with so many residents outside of the United States, we still only accept U.S. Dollars as payment. Localizing payment systems and maintaining the highest level of security possible for our residents is no easy task.

Today we’re pleased to announce a new initiative to make the Linden Dollar more accessible! Through our Risk API program, we have already established relationships with some of the biggest 3rd party Linden Dollar exchanges to keep transactions secure and protect our residents. We are pleased that these Linden Dollar resellers have chosen to work with us and we are now making their services even more accessible to our residents.

A new article on our public wiki page lists the payment options they offer by country, currency, and payment method. The wide range of payment systems these sites offer for Linden Dollars is now also directly available through http://www.secondlife.com via a link on our currency page to that wiki article.

To keep the information up-to-date, we’ve created two surveys. For those Linden dollar sellers that do not use our Risk API, we’d like to know what payment methods and currencies you accept and whether you’d be interested in using our Risk API. You can fill out a survey to tell us here. For our residents outside of the U.S., we’d like to know what currencies and payment methods you would like to see available to purchase Linden Dollars. A survey for Linden Dollar buyers is here.

By making it easier for our residents outside of the U.S. to attain Linden Dollars, we hope to make Second Life and all of the wonderful creations of our residents more accessible to everyone!

This entry was posted in Announcements & News, Economy. Bookmark the permalink.

83 Responses to Introducing the New International L$ Marketplace

  1. mikeD Streeter says:

    Survey for the non – U.S. is a bad link “Server Not Found”

    And I’ love Canadian funds! Although if U.S. dollar gets stronger again then Ill take the U.S. can keep the difference ;P

  2. mikeD Streeter says:

    Ok remove the first junk until the www and it works!

  3. Phase Cydrome says:

    HTTPS site says the domain is for sale, and no survey there… :o(
    For the people without credit cards in the UK, I think Post Office Payments would be a good idea.

  4. U M says:

    floating Linden dollar……….

  5. Ooooohhh you’re going Euro just like OPEC will be shortly!!

    Nice to see some foresight going on at Linden Lab®™®™®™®™®™®™®™®™®™®™®™®™®™

  6. mikeD Streeter says:

    How about more Canadian suppliers of Linden Dollars, Anshe Chung’s pays only 208 linden for one Canadian dollar, super rip off there since the dollar is worth about same and and most days worth more than the U.S.!

  7. Phase Cydrome says:

    Ok, from my previous post it took the non US link took me to “http://https//www.surveymonkey.com/s.aspx?sm=OL88bR_2bIqzme4bEVEwrEOA_3d_3d”

    Removing the “http://https//” cured the link. and now works fine .

  8. Broccoli Curry says:

    I’m UK based and have never had a problem buying L$ through the US site when I need to.

    Your own stats show that most SL players are 18-40, university educated and affluent … and not many people don’t have some form of bank card – or Paypal – these days.

  9. Ann Otoole says:

    oh please let there be an end to “buy chinese gold for secondlife” spam lol. good move on the exchange.

  10. ramlinden says:

    Thanks for the quick responses on the survey link. My error, I mangled the link in pasting it in as many of you already noticed. It’s now fixed. Thanks for the feeback so far!

  11. Jossy says:

    I am not surprised. The US$ is close to zero. America is bankrupt. Ofcourse you want other currency.

  12. jane says:

    Lindens, make it more easier to buy and sell L$, a withdraw thru paypal WITHOUT credit card (important for european customers!!) is the simplest and fastet method. Other then in the USA, not all in europe has a credit card. We pay in cash usually! Extend the buy/sell limit thru the lindex, 25$ is not enough. First ask, then do 😉

  13. Zak says:

    This is an awesome initiative. Bravo to whoever was behind this at Second Life, that’s the kind of enterprising that is going to keep this site alive!! As an international user, will make me spend a lot more money on Second Life.

    – Zak

  14. I sure hope this won’t force residents to using a specific currency like european residents must use euro, US residents must use USD etc, unless you also take into account the exchange rates against the various RL currencies?

    If it’s just opening up to have more and easier access to L$ for international residents, I’m all in favor 🙂

  15. Darien Caldwell says:

    I don’t see anywhere the statement they are going to another currency. They are simply highlighting alternatives for people who do not reside in the U.S. I would say this is a push to entice more 3rd party resellers to use the Risk-API, which is a good move. The resellers have to use the Risk-API to be included in Linden Lab’s listing.

  16. jane says:

    \edit
    offer more different currencies; €uro, swiss francs, Canadian $, make a bank account somewhere in central europe for exchanges. Per example in Switzerland, Luxembourg, Liechtenstein, Jersey, Monaco, Austria. A lot of people without this hated plastic cards (credit cards!) would be happy to share more of their benefits in SL. Think before you do 😉 Think good! 😀

  17. Lloyd Newman says:

    Well, if you’re going to do this.. how about taking my US$ payments from my CC and doing the transaction DOMESTICALLY, so you don’t cost me extra US$ by processing the transaction in the UK?

  18. Ok, disregard that earlier comment. If I read correctly, only thing LL is doing is collecting data from 3rd party exchange sites and making that available to the residents, as well as promoting the use of their risk API, nothing more.

  19. buckybarkley says:

    Is “RISK API’ a common financial term? Sure seems like a strange thing to name a means of buying and selling currency… The last thing I want is risk in doing so…

  20. AO says:

    So I take it that we can now pay for land, premium and such with money from these other “official” exchanges, for people who the CC/Paypal on Lindex does not work.

    GREAT, to see the change back to the original policy!!!!!! Finally, this has been *long* overdue….

    (Well at least since the change that required buying US$ on Lindex before it would work).

  21. Judi Newall says:

    I buy USD with GBP via Paypal, that suits me fine

  22. Muzicole Undertone says:

    As a Brit, I’ve no problem using my credit card or PayPal account to buy L$ in US$. However, I would have a large problem if I have to buy L$ in British currency and consequently have to pay VAT on them. I’ll be sending money to my US friends via PayPal and having them buying L$ for me if that happens.

  23. BlackIvy says:

    Ramlinden! Have my babies! This is the sexiest initiative ever!!! I cant wait to ‘climb on board!’

  24. Darien Caldwell says:

    @19, It’s called the Risk API because what it does is gives the currency exchange a assessment of the Risk involved with accepting the transaction from the person trying to sell the $L. (not sure if it applies to buying). The whole reason for it is to stop fraud, such as selling stolen lindens and prevent money laundering. How it works exactly isn’t disclosed, as that may give the crooks the knowledge on how to circumvent it. If you have access to the support portal you can read more here: https://support.secondlife.com/ics/support/KBAnswer.asp?questionID=4075

  25. IntLibber Brautigan says:

    I think its imperative that LL provide RiskAPI to ALL businesses that handle large transactions or other peoples funds, whether they be estates, stock exchanges, you name it. We all need to help reduce fraud in SL, and the past punitive policy of slapping around 150% fines against people who are for the most part completely innocent simply is not good for business.

  26. maelstrom janus says:

    When can we pay tiers/ memberships in our own currencies to ?

    And can we expect some competitive rates to take account of vat. ?

  27. Crunch Underwood says:

    i’d like to be the first aussie to chime in and say it would be great to see aussie dollars, good work LL

  28. Dub says:

    Great job, LL! This is going to be great for us users living in Fu-Zhan-Flen-Shi, China. Keep up the good work! We love 2nd Life here in China!

  29. BlackIvy says:

    How about the Djiboutian franc?

  30. Taff Nouvelle says:

    when will we be able to pay tiers and membership in Lindens. that would save the problem of having to change Lindens to $US with the fees involved.

  31. Jacob Cagney says:

    Why is Linden Lab™ not using the trademark symbols as they are demanding that everyone else use?

  32. Zak says:

    Second Life is one interestingly complex and twisted system.

    It is interesting that Second Life is doing so well in China. I like that according to other posts here this initiative will further open SL to the Chinese market. Yellow orbs.

    – Zak

  33. olaf bosch says:

    I rather stay with my current payment methode. when I compare lindenEx buy and the l$ 316 without costs are offering I would be mad to do not so.

    Lindex Buy: 155 usd (1 euro is 1.55 usd) gives me L$ 40,995.- / 100 euro = L$ 409.99 (410) the euro.
    Non Linden example: dont have to calculate but here the cdalcs:
    L$ 316 * 100 euro = 31,600.-

    eeew

  34. Catherine Pfeffer says:

    Linden Labs has subsidiaries in Europe — otherwise we EU citizens would not need pay the European VAT.

    So why can’t they charge directly a visa card, in euros, from Europe?

  35. Glox Parisi says:

    The 3rd party Linden Dollar exchanges are a complete rip off. Anshe Chung’s Dreamland charges 51.99 CHF for 10000 L$ — with the current USD/CHF exchange rate that’s 51.30 USD for 10000 L$ or roughly 195 L$/USD while LindeX rate is about 265 L$/USD. That’s ridiculous and I don’t understand how you can officially endorse using these services.

  36. isadorafiddlesticks says:

    this is great, and about time too…keep coming up with establishing official procedure, SL has been growing so big that it needs something like this to keep everything official and organized.

  37. Roberto Pascale says:

    @33
    ur calculation is correct. :D:D
    for that i will continue to use my creditcard to buy me some linden’s 🙂

    So advice is to calculate first before u buy ur L$
    Have a nice day.

  38. Christos Atlantis says:

    Very good, keep these great ideas coming, hopefully things will get better soon.

  39. Blabla2 Eponym says:

    Now it would be nice if the payment info in your profile would also get updated when you use an external money supplier.
    or get rid of it all at once

  40. Domchi Underwood says:

    Wow, this will be great for Chinese gold farmers… sorry, Chinese L$ campers. :)))

    Seriously, it would be great not having to go through double conversion to USD every time I buy/sell Lindens. It would be even better if L$ weren’t tied to the USD which currently sucks as currency…

  41. richard says:

    I DONT THINK I WOULD USE THE WORD “RISK “IN RISK API PROGRAM

  42. Dragovar Innis says:

    This will be great if we no longer have to use Paypal, who still retain over 500GBP of my money after 5 months.

  43. Midnite Rambler says:

    I second the call for transactions in AUD (Aussie dollars). Hopefully it would stop us having to pay approx $13-14AUD for every $10USD.
    While your at it, make it so Tier and Membership also get taken in local currency.

  44. Midnite Rambler says:

    Oh and no way will I ever buy through Anshe Chung when it costs $25AUD to buy 5000$L. That means it costs more than it does to buy through LindeX, even taking into account exchange rates and conversion charges.

  45. Dragovar Innis says:

    I forgot to say that that is because Paypal regard money originating from Linden Labs as being ‘high risk’ and ‘suspicious’, so they need a sample of your DNA (almost) to complete the transaction.

  46. Agathos Frascati says:

    Very nice! How about extending the globalization including international premim acounts? I’m a premium user in my country Mainland and not a premium user in Second Life at all.

  47. nero Boa says:

    USD ftw, but a universal way of being able to directly transfer from all the major markets may be useful.
    ^_^

  48. Meta Starostin says:

    I can see some benefits perhaps.

    1. Currently it takes 4-5 days for a transaction to be processed. The exchange rate can fluctuate considerably during this time. This has also overdrawn my Visa Debit Card sometimes which attracts a $AUS35 fee. I would like to see this problem solved ASAP.

    2. Only if it is an option.

    3. What is the exchange rate/fees?

    4. Currently the LindeX uses stats that I use to determine the Limit Buy option.

    5. Is there going to be an option to sell $L for my local currency as well as buy.

  49. Hmm, a LindeX in Euros? Interesting…

  50. U M says:

    No The Japanese Yen to the Linden is Intersting :/

    Usagi

  51. Tarik Flatley says:

    Wow, they are improving. Now they can wreck havoc and cause more problems in many more currency exchanges! What an enhancement. Five days to credit a PayPal account, when they can debit it instantly. Give me a break! Everywhere else I do dusiness, it’s one day [yes, SL 1 day], or less. So, who are the real fools here? Well it’s us, for letting these morons jerk us and our money around. I thought this would be a good portal in which to sell my pdf’s and generate an additional revenue stream. I was wrong, it is the worst site for business that I have ever seen. I’ll stay with my website and other outlets, and warn others about doing business on here!

  52. Tom says:

    Just remember only use the site links that are listed on the secondlife website. I personaly have never used a 3rd party site for transactions but will have a gander at the ones Linden Labs confirms as safe.

  53. U M says:

    ohoh dreamland.anshechung.com names pops up here……….would never do business with this linden selling group………

  54. CaptainJack Kidd says:

    From what i just read your new system is a rip off. a buy sell spread
    should be no more then a few points. more then that and its called stealing. Great job LL find better ways to work for us not on us.

  55. U M says:

    look at the rates they are giving……i say your right……laughs at the sites offering their service in japanese. whats the rl exchange now euro to Yen 0.006390? Oh please ……………..there are some just trying to make fast money here. They wil find abuses just liek they did the last time they offered off site buying and selling.

  56. How long does it take to get the list updated? I filled out the survey for euroSLEX (www.euroslex.com) 2 weeks ago, and still the page says it has been updated on March 6th….

    And yes, what’s currently on the list are in fact rip-off prices, because these are re-sellers not true exchanges. On our exchange, the L$ ist currently trading arout 415 L$ per Euro.

  57. Ram Linden,

    will you also ensure that I as the consumer of L$s will have the chance to shop around for the best L$ conversion rate, or is there a later move to force consumers to buy only in their own country? A quick update on this would be nice.

    Marc

  58. Masuyo Aabye says:

    di anyone even bother to read this blog properly? they’re just offering 3rd party sites who sell L$ to use thier risk api thing. thats all.

  59. Being a person who lives within Europe but outside of the Euro system, I would say in all practiciality my own currancy.. Krona, (Swedish) however.. the Euro should really be considered for those who are within Europe as it is accessible and understandble.. but then again there IS Always the Brittish Pound as well as the Swedish “Crown”– just as idea of who your Europian residence are and what they may think. I do believe that the Euro is allot more stable than dealing with DOLLARS so it makes me less frightened of investing inworld.

    Just a few thoughts, hope it helps. I don’t like the idea of 3rd party offers but rather a one on one deal in Euros feels “safer”.

  60. mimi says:

    So does this mean I can get my money in euros? I live in europe but I am payed out in a dollar that has not much value here.

  61. The Inquisitor says:

    What I’ve seen can’t be legal…
    are these companies really allowed to rip off people who
    can’t afford a Credit card or ar not able to get a PayPal
    Account for whatever reason?

    As it seems the rich are getting even richer.
    The poor will get a kick.
    (Hey SL is now soooo close to RL)

    Honestly Ram… can you really say from the bottom of your heart
    that you are “proud” for that?

    It’s really sad to see Linden Lab supporting such a business.

    316 L$ compared to 355 L$ (at the lowest buying rate – can go up to 378 L$) is a proven RIP OFF….

    Shame on you Linden Lab…. shame on you!

  62. Sonja Felisimo says:

    HI all
    as somebody who runs a business in sl i never have the need to change decent hard currency into Linden Dollars……my business pays my way.

    But this blog made me curious so i had a look at this idea from the point of view of someone who needs to change currency into linden dollars.

    And all i can say is………YOU CANNOT BE SERIOUS.

    If we look at the exchange rates being offered………well not gonna do a maths lesson here………….i think most people can add, multiply and divide………..they are to a large extent, in my opinion a rip off.

    I can understand the idea of needing a RISK API System but guys at LL do this properly……….offer the official LindeX service on a wider scale with more payment mehtods……….god knows that wouldn’t be to difficult to do in this world of internet commerce, most other online services manage it.

    furthermore i ask myself what the criteria is to become…..Official 3rd party reseller……hmm there are many other exchanges out there that offer better rates……….here we see in my opinion we see some of the choosen few again.

    And to say make things more accesable………LOL………these resellers have been around for ages with their own websites, inworld offices etc. All that this means is they can put a nice logo on their business……….maybe makes them and LL feel good.

    Íf you guys really want to help the normal everyday SL resident then do something yourselfs to help them and not send them to the sharks.

    greetz from Germany
    Sonja

    P.S. If you really did make things easier to obtain lindendollars (and affordable) alot of in world problems would sort themselves out…..think about it :))

  63. Lees says:

    An easy and acceptable way to upgrade to premium without the need for an credit card or payhell would be very welcome as well.

    No idea if that is possible to do with 3rd party, to be honest. 🙂

  64. Cat Gisel says:

    Many of these folks are right. It’s important to note that these third party sites charge VERY different rates for the services they provide (one of the reasons people still use LindeX). I have used other services, and read the fine print.
    Has all of this been taken into account, and agreements settled properly? I am sure it has, I wanted to ask.

  65. WADE1 says:

    I filed this as a Jira Bug Report™ back when USD first started tanking really badly. I hope this means the Lindex® will offer some good alternates to USD, like EUR or AUD.

    We do need a strong non-depreciating currency backing the Linden Dollar® if anyone is going to store significant volumes of cash in this SLeconomy™, and currency options, so I am glad to see Linden Labs© taking some action here. The US economy may recover, but with the world economy on the rocks, we need some options available to protect our ass…ets.

  66. Ishtara Rothschild says:

    Well… The current exchange rate is 0.63 Euro cents per US$, but Anshe Chung calculates with 0.8. Do you really think it’s necessary to promote her services on your Wiki page? Why not point European residents to a fair exchange site such as euroSLEX, where both buyers and sellers get a better exchange rate than on the LindeX™?

    Well, I can understand that you only list exchange services that are no real competition to the LindeX™, but I can’t understand that you help them ripping off your customers.

  67. GB Pounds at last!

    At the moment I’m paying t transfer rates which even though the pound is as usual totally worth more than all other currencies, means I’m losing out.

  68. Sonja Felisimo says:

    Hi everyone again,

    sorry to take up another blog entry but i just read the different links and found this………….:

    ” ..Please note that while we try to ensure that only high quality resellers are listed on this site, these resellers are not endorsed by Linden Lab and Linden Lab accepts no responsibility for those listed here…….”

    LMAO guys…………..????

    You say quote….” we are working together with…” hahah but you don’t endorse them…………..get real. Obiviously you can’t be to impressed with what they offer !!!!

    Or am i as someone who speaks the queens english understanding the meaning of your words wrong ????……… (sonja goes looking for an american english dictionary ).

    @67….it’s easy to figure out why they have chung in their list ;)……..and i totally agree with your comment.

    Sorry lindens i love sl but sometimes you guys seem to show people over and over again that your business sense rates on a scale from 1 – 10 at about -3……..:)

    And lets be honest we are probably talking money here somewhere down the line………the old english saying…..”you scratch my back and i’ll scratch yours “.

    Get your act together LL…….do something constructive yourselves for once for all the residents in secondlife wherever they may be in the world………..because look at whats on offer, wouldn’t exactly call it international…….if your gonna call it………..”International Market” then at least make it international before you annouce it.

    ciao ciao everyone
    ignore them and enjoy secondlife 😉

  69. brother nadezda says:

    I followed the link for AUD and bought 10000 linden from-‘anshee chung studios…cost in AUD=59.99
    I THEN bought 10000 linden through my paypal account using $US….
    ..cost in AUD=45.54…..
    all i can say is check before you buy with your own currency.

  70. Sean Gasparini says:

    It’s a step in the right direction (to recognize that the USA is not the center of the universe), but… If you know how a calculator works, why would you buy L$ at 206 (on the only CAN$ exchange listed) when you can get 260 on the secondlife.com website (since the CAN$ is worth about 1US$)?

    In fact, I find it a bit questionable to list that site which is just a rip off…

    (I see from brother’s post above that it is the same rip off on the AUD exchange).

    LL needs to become, itself, international. What’s the point of encouraging rip off artists? That will not help you with the international community.

  71. Cliff Eclipse says:

    So if RiskAPI is what you are selling, how can I get it for my business?

  72. maelstrom janus says:

    oh I missed the third party bit…are these like the group who sold me lindens with what turned out to be a stolen credit card when I first came to sl and caused me a hell of a lot of grief and trouble.

    NO THANKS !!!!

  73. Georgette Whitfield says:

    I agree with what others are saying: it’d be great if the official Lindex™ dealt in other currencies like GBP but why on earth would I want to use a third-party site? That’s just asking for trouble. My credit card company don’t charge me much for purchases made in $ instead of £ so there’s no need for me to use other sites, and I feel much safer not doing so.

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  75. U M says:

    “70 brother nadezda Says:

    March 27th, 2008 at 6:06 AM
    I followed the link for AUD and bought 10000 linden from-’anshee chung studios…cost in AUD=59.99
    I THEN bought 10000 linden through my paypal account using $US….
    ..cost in AUD=45.54…..
    all i can say is check before you buy with your own currency.”

    OMG your joking………….told you about that site. Many knew going into this it would be a nightmare for buying thur that site! 59.99!!!!!!!! OMG

  76. Meta Starostin says:

    I will stick to the way I am already using for currency. In Australia, the consumer has the protection of the financial institution watchdog and regulators; ie the Commonwealth Banking Ombudsman who would deal with any complaint I might have. Therefore I am protected in regard to credit card transactions and exchange rates, bank charges etc.
    1. What equivalent consumer protection do I have with financial transactions with these 3rd parties?
    2. ditto with Linden Labs?
    Note: Both deal with currency exchange and charge fees.

  77. Finally, thank you. Probably too late for the tens of thousands of Euros who have already left, but a move in the right direction, and a realisation the place is global, and the US users in the minority.

    Next you might like to know they are not all Christian and living in the northern hemisphere either… 😉

    Whatever next? CTO gone, CEO gone, international currency, finally listening to customers, just a few more shinies and major overhauls to fix before you can concentrate on stability.

    Now as long as you don’t make it obligatory to have top of the range state of the art kit the thing might become playable, and even, shock horror, enjoyable once more!

  78. Dix says:

    On the international L$ marketplace page of LL, it says:

    “Please note that while we try to ensure that only high quality resellers are listed on this site, these resellers are not endorsed by Linden Lab and Linden Lab accepts no responsibility for those listed here. If you have trouble with any of these sites, please report your difficulties by emailing us & we will address it with the reseller and potentially remove them from the site.”

    Clearly this is a disclaimer to make sure that LL is not sued for malpractice. However, LL does advertise these companies. I see that as an endorsement.

    The problem that I have with these companies is that they sell L$ at ridiculous exchange rates. I’ve looked this up (www.oanda.com) and it shows that they usually use USD>EUR exchange rates of 3 years ago !! And as we all know, a lot has changed with this exchange rate. Oh, and it’s not only the euro rates that are completely out of order, it’s also the others.

    LL banned banks, being rightfully afraid of scams and bad publicity, but still they support these malpractices. Do your math before you buy L$ through one of these non-LL parties. Commissions of 25% and up would not work in RL. Why would they work in LL?

  79. Abby Mazie says:

    Hope you add more non-US/ international/ Asian country option surveys in SL. 🙂

  80. Beasil Roundfield says:

    Localized payment systems? Is that why my bank charges me a fee for international payments when I buy lindens?

  81. Erick Thespian says:

    I NEED HELP!

    Im based in Malaysia and I dont know how to buy L$. PLS HELP!

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