Are you looking for ways how to earn profit from cryptocurrency and Forsage seems like a good opportunity for you?
I admit at first sight it seems like a great way to make a profit since the entire income goes right into your pocket.
But have you noticed that Forsage works like an MLM?
Or to be precise a gifting scheme dealing with Ethereum?
I have to be honest with you – when a person on Facebook sent me a link to join Forsage, saying that I can join and make an easy profit I was suspicious about the whole idea.
I was thinking, does this scheme really work?
Or, Is Forsage a scam?
In the following review, we are going to find out who is behind the Forsage, how can you make a profit with it, and whether this is a pyramid scheme or not.
I will share with you also a better alternative, that has worked for me.
Disclaimer
Please note, that I am not a member or an affiliate of Forsage.
This review is based on research and information available online in the public domain.
Any recommendations and conclusions are only opinions and may not apply to all persons or situations.
Forsage Overview
Name: Forsage
Website: www.forsage.io
Price to Join: Approximately $10-$12 (0.05 Ethereum)
Recommended: No. It is an illegal gifting matrix pyramid scheme.
Forsage Review – A Quick Summary
With Forsage, you are promised the opportunity to make a couple of thousand dollars in just a few weeks.
All you have to do is pay $10 and then recruit other people to invest the same amount, who in turn will recruit others, creating a chain.
In essence, Forsage operates as a gifting scheme, which is not legally permissible in most countries.
Only those at the very top of the pyramid make any profit, turning it into a pyramid scheme that involves dealing with cryptocurrency.
Additionally, once people have invested in it, they are unable to retrieve their money.
It is strongly advised to stay away from Forsage.
If you’re interested in a legitimate method of making money online, consider exploring Affiliate Marketing. It’s a method I’ve been using for several years.
Forsage – Update August 2022
According to SEC.gov, 11 people involved in Forsage were sued for creating a Ponzi Scheme.
“The Securities and Exchange Commission today charged 11 individuals for their roles in creating and promoting Forsage, a fraudulent crypto pyramid, and Ponzi scheme that raised more than $300 million from millions of retail investors worldwide, including in the United States.”
The original text is to be found at SEC.gov:
Read further to learn about the red flags that are common throughout many Ponzi schemes that are still out there.
What Is Forsage?
Forsage is a gifting scheme dealing with Ethereum(cryptocurrency).
This is supposed to be the world’s first decentralized matrix project.
Meaning that the income goes directly to your wallet, with no risk.
Forsage operates as an MLM model although there is no product to sell. The only way how you can earn is to ask other people to join the Forsage.
According to the creator of the Forsage, the participant or the person who joins the Forsage has unlimited earning potential.
There are certain requirements though:
- He needs to be actively involved
- He has to undertake the training
- And he needs to support his team (downline)
But the thing is that no one can guarantee you that you will make a profit (let alone an unlimited one).
Also, the statement that you can keep all the profit is false.
Legal Issues with the Forsage
There were no legal issues at the time of publishing this article.
But,
We are going to check some complaints from people (former users) who strongly advise not to join the Forsage, claiming it is a scam, and so on.
Please bear with me.
Update March 2021
There is new information regarding the Forsage operating as Pyramid and Ponzi Scheme.
Just recently Forsage has been labeled as a Pyramid Scheme in Montana and the state’s security regulator ordered it to stop its work within the state.
You can read the full article – Montana regulator issues cease and desist order against Forsage scam.
As mentioned in the article, consumers can learn more about how to spot such a scam and what steps to take in case they become a victim:
All these scams have pretty much the same patterns so once you learn how to spot one, you won’t get scammed so easily.
Read more about the Forsage to learn how these scams work.
Who Is Behind The Forsage?
According to my research, the Forsage is created by a guy named Lado Okhotnikov.
He says he has had many years of experience in MLM and has participated in matrix projects since 2013.
The real ownership of the Forsage is questionable though.
Forsage has also a Facebook group.
There are 2 admins, Nate Harris, and Scotty Houge. They both have more than 3,000 friends but none of them is connected with Lado Okhotnikov.
That does not necessarily mean that Lado Okhotnikov is not who he appears to be, but I just thought these guys would be connected on Facebook.
Forsage was launched in February 2020 and in April the website Forsage.io had already more than 400,000 visits.
People seem to be very interested in this model.
No wonder, they are promised big earnings with little effort.
Apparently, there are 3,000 people joining Forsage, every day.
But how about the first half of 2022?
We see (acc. to similarweb) that the traffic is half of what it was at the beginning, but still quite significant:
What is interesting, is people form visits from Russia and the US dropped, whereas from Ukraine raised by more than 60% and India by more than 100%
Is Forsage a Pyramid Scheme?
Let’s keep a couple of things in mind.
- You are asked to get people or to create a chain with 3 or 6 people as your downline (means recruiting, otherwise you won’t make a dime)
- There is no product involved that you can make money from
- Lado Okhotnikov, the alleged creator of Forsage claims, that the earning potential is unlimited
How does it sound to you?
You are exactly right – this sounds like an outright pyramid scheme. Or it is also called a gifting scheme.
(Gifting scheme is just another type of Pyramid)
If you don’t feel like reading any further, and you want to check other ways how to make money online, here is a method that I use to generate revenue online.
I must warn you though.
It is not a push-a-button system, nor an automatic way to generate income.
With the method I recommend, you are building a business – meaning you learn how to drive traffic (people) to your website, how to provide value to people, and after that how to receive a credit (real USD) for that.
So if that is OK with you, go ahead and test this platform.
Who Is Forsage For?
This seems like a great opportunity for anyone who is seeking to make money online or is interested in extra income.
Unfortunately, the way Forsage operates is illegal and anyone who is involved can be punished as well.
Let me share with you my opinion about who is this for:
Noone.
This gifting scheme dealing with cryptocurrency is just a modern way of pyramid scheme.
I know that you want to find out how to generate profit online. Let me help you to find that out.
At the end of this post, I share a link where you can click and check how I earn money online.
How Much Does It Cost To Join Forsage?
To start with Forsage you have to pay the minimum fee which is 0.05 Ethereum.
According to the current exchange rate that equals about $11 USD.
In order to sign up, you have to have ETH pursue to interact with the smart contract.
How Does Forsage Work?
They have 2 programs called Forsage x3 and Forsage x4.
After paying the 0.05 Eth, you will join both programs simultaneously.
Forsage x3 – You have to have at least 3 people or positions to be filled.
Forsage x4 – Here you need 6 places to be filled (or 6 persons).
Once you have all positions filled out, you will rank to the next level.
There are 12 levels for each program or slot. If you want to enter the higher level you need to pay more.
In other words, you can even activate all of the slots right away but you have to have a budget for it.
Let’s say if you want to active 5 slots, you need to buy 1.55 ETH (approximately $370)
Here you can watch the entire video where it explains how it works:
Products, That Forsage Offers
As mentioned earlier, there are no products that Forsage has to offer.
It is a gifting scheme, and without products, the only way you can “make” a profit is to find other people, who will find other people, and so on…
This structure is not sustainable and because of the limited number of people on Earth, it will eventually crash.
That is why it is illegal in most countries.
What Do People Say About the Forsage?
You will find some who say this is a perfect model, but obviously, these kinds of people are those who want to recruit others in Forsage.
If you do your research you will find also unbiased comments, and these mostly are saying that Forsage is a scam or pyramid scheme.
It is not very flattering.
But let’s take a look at one 5-star rating:
Interesting. It has nothing to do with Forsage.
Well, I am sure Trustpilot will sort these reviews out soon and get rid of the fake ones.
Here is for example a recent one (from June 2022):
Based on these reviews, I wouldn’t trust the company at all.
For some reason, I can no longer access Forsage.io on Trustpilot. One can’t help but wonder why…
However, there is another Forsage domain, Forsage .cc, where people on Trustpilot rate the company again, but with poor results.
Forsage cc Reviews
The reviews regarding the company Forsage on Trustpilot are mixed, with several users expressing concerns about:
- pending withdrawals,
- lack of customer service,
- and doubts about the legitimacy of the website.
Some users are uncertain about whether the site is legitimate or a scam, while others claim to have experienced issues with withdrawing funds.
Overall, there seem to be significant concerns about the site’s credibility and the responsiveness of its support team.
How Much Can You Make with Forsage – Income Disclosure
Every MLM company has to have an income disclosure available.
So people or potential prospects can have a look and decide whether the company is lucrative or not.
There is no income disclosure on a Forsage site.
But I would not see this as an issue since Forsage was launched only at the beginning of 2020. The income disclosure usually shows the income for the previous year.
According to the sales video, people are earning hundreds of eth (Ethereum).
To “proof” that they use these anonymous testimonials, which in my opinion are fake, or at least useless.
They don’t have any value.
But apparently, you can check these ids on Blockchain.
Why do People Lose Money?
It’s the nature of every pyramid scheme.
The only people who earn money are at the top of the structure (creators or who are very early in the game).
The rest, only pay their uplines and struggle to recruit new persons.
This is pretty much what it looks like.
Legit Way to Generate the Revenue
I already mentioned you don’t want to be involved in the pyramid scheme.
I know that earning cryptocurrency sounds fancy and it looks like the best way to make money in the future.
But it is just a bubble and it can be compared to gambling.
You will find a lot of different opinions about Ethereum, both for and against it (and also other cryptocurrencies).
Nevertheless, if you want to have a sustainable business, you should be dealing with something that the majority of people do or want.
That means something that people need. Offer them value.
Take for example affiliate marketing.
In principle, you make money by offering products to other people.
Do you like outdoor stuff?
Choose a specific item – f.e. you like to go hiking and you have experience (or interest) in sleeping bags.
You can have a website around sleeping bags, partner up with a company that produces them (it is easy as you need to fill out a form and get an affiliate link), and once someone purchases via your link, you get a commission.
If you want to learn more about a specific platform that has been around for more than 15 years, teaching affiliate marketing, you are welcome to find out more:
How To Do That?
Basically, it is easy.
- Create a website
- Drive traffic
- Monetize the traffic
You need to drive a specific group of people to your website (or if you have a youtube channel). That means you have to come up with a specific niche.
For the sake of time, I oversimplify it, but in principle, that is what this platform teaches/what I learned.
What Do I Like About Forsage?
- There is not much I like about the gifting/pyramid scheme. These are illegal in most countries.
What I Don’t Like About Forsage?
- The modern version of the pyramid scheme or even the Ponzi scheme
- The only way how to earn money is by recruiting
- Not a sustainable model (Dealing with cryptocurrency is questionable)
Is Forsage Real or Fake?
It is strongly advised to steer clear of Forsage.
To be precise, Forsage operates as an illegal gifting scheme, akin to a modern version of a pyramid scheme, involving transactions with cryptocurrency, particularly Ethereum.
The initial joining cost for Forsage may be low, deliberately designed to attract a larger number of participants.
It’s crucial to understand that actively promoting this model could lead to legal issues.
Avoid getting involved with this new Ponzi scheme.
It’s only a matter of time before Forsage inevitably collapses.
Thank you for reading,
Mike
Forsage FAQs
1) Is Forsage Legit Or Not?
Forsage in most countries is not legit.
In fact, in certain states of the USA, it has been classified as an illegal pyramid scheme.
That is a sufficient reason, to stay away from the scheme.
2) Is Forsage a Pyramid Scheme?
Yes, it has all signs of a pyramid scheme.
Although it was not officially labeled as a pyramid scheme in most countries, it certainly operates that way.
As mentioned above, in Montana (for example) Forsage has been already labeled as a Pyramid Scheme.
3) Can I get my money back from Forsage?
No, you can not.
And people that joined are disgusted with how the Forsage works, so most of them don’t feel like promoting this to other people.e
Since it is a pyramid, the only way how to make money is to promote it to other people.
I don’t recommend this at all since it is just a matter of time until this scheme collapses.
4) What is the minimum investment in Forsage?
With Forsage you have 12 investment slot packages or also called levels.
To join the cheapest one costs 0.05 ETH which represents about $12.
1 ETH = $250
The system allows people to invest up to more than 800 ETH, which is more than $200,000!
As mentioned, the “investor” will never see the money again!
This was a great read, I really enjoyed it. Thank you for sharing this article, it is informational. And I learned a lot and it contains valuable information.
I am glad you like the article.
Thank you for your comment,
Mike
I think this website is great and have found it to be quite useful. Continue the excellent work.
Thank you for your commnent.
If there’s actually a way to withdraw your funds from Forsage I would love to know!! I got taken by crafty MLMers using Forsage as a method to join their club. (Saying that access to their club was “the product”). Once I realized how it actually worked, I could not ethically promote it, so yeah, lesson learned. Don’t trust a system just because someone you trust is promoting it. DYOR as they say! On Forsage (at least the original ETH version) your money goes directly to others in the pyramid, so it’s immediately gone as soon as you join. I never referred anyone, and I never received any “spillover” from above.
Unfortunately, there is no way how to get your money back once you invested in it.
As you say, lesson learned.
Well, I am glad you have shared your experience with Forsage, here, hopefully, more people will be aware of their scammy practices.
Wishing you all the best
Mike
This Forsage really sounds like a pyramid scheme. I got overwhelmed just by going through this article. I think people should really try to stay away from such schemes.It normally ends up being a waste of time, money and relationships. Anything illegal is a No No. Thank you for the review, you have provided enough information to enable the next person to make a sound decision.
That is exactly right.
Glad you find the review valuable.
Thanks for the comment
Wishing you all the best
Mike
First of all, the graphic design and the visuals are outstanding for this platform. That screen of the tiger’s face is pretty good. On the other hand, you have gone point by point unmasking these guys. I would have not spotted the pyramid scheme because it’s cloaked in novelty. Cryptos are hot right now and scams take advantage.
That is right – it is not easy to spot a pyramid scheme.
Regarding the Cryptos and how scams take advantage of it – Right On!
Thanks a lot for your comment
Mike
You have done some deep research indeed. But since you have already mentioned that you are not a member of Forsage and your review is based on public opinions, it’s a bit incomplete there.
The negative comments on social media and different platforms are by the people who were misguided by their uplines. Forsage is not some investment scheme and it is clearly mentioned on the website more than 100 times. But, some people market it in the wrong way spitting out all the fake promises just to get more income (although it backfires at them).
However, this does not mean that everyone always markets Forsage in the wrong manner, there are many team leaders who explain the working of Forsage correctly and people still join them.
It’s true and common human nature that if something works for them then they are happy with it; if not then they will eventually search for all possible sources to write bad stuff about that particular thing, which in the case of Forsage are the uplines. People believe the lies of random people ignoring the facts provided by the forsage website and then write negative stuff about Forsage [BIG LOL!!]. (Anyone can literally learn how forsage works just by looking at the FAQ section provided on the main page forsage.io itself.)
Rest about Forsage being a classical Pyramid Scheme, so yes it uses the structure of the MLM model (as it requires referrals) but does not entirely work the exact way. People can easily supersede their upline if they work harder than him (proof – in x3 you earn twice before the payment is sent to the upline). Plus, the payments don’t always go in an upward direction, downlines too earn from their uplines.
To conclude, anyone can join Forsage if they are willing to work the way it works.
(Please feel free to share your thoughts and correct me if I’m wrong somewhere)
Hey there,
And how about the fact that Commissioner Downing Orders Forsage to Cease and Desist?
Recently I have added new facts about the Forsage that just underline the original message.
Please Stay Away from Forsage.
“Forsage does not try to hide the fact they are a pyramid scheme. Members must pay with Ethereum cryptocurrency to the person above them to buy a position on the pyramid. The currency used to buy the position goes directly to the participant above.” Commissioner Downing said, ” To make money, the participant must then recruit three more people. The first two recruits’ money goes to the person who recruited them. The money from the third goes to the participant two steps up in the pyramid. Positions on the matrix double in cost to move up.”
Source:
https://csimt.gov/news/commissioner-downing-orders-forsage-to-cease-and-desist/
This is not a scam !!! FORSAGE is a 100% decentralized program, there are no main ones. The project is based on a smart contract and its balance is always equal to 0. This means that there is no accumulation of funds. Payment goes directly to our wallets. I believe that a project that has existed for over a year cannot be a hoax. Tested on personal experience. I have been in the project for a long time and I was able to earn enough money.
Really?
How would you explain the fact that Forsage has been already issued a securities fraud cease and desist from Montana’s Commissioner of Securities and Insurance?
Stay Away from Forsage!
Wishing you all the best
Mike
Mike, thank you for this comprehensive review of Forsage. It does, indeed, look like a modern Pyramid Scheme and a platform to be avoided! I have some personal experience with MLMs with great products, but even those require the enrollment of others as well as the sale of products to be successful. I hope many more people read your review and heed your advice about Forsage.
Thanks a lot for your comment, Jenni.
Really appreciate it, especially when you have personal experience with MLMs.
Yes, Forsage is a Pyramid scheme and I also hope more people read these reviews so they won’t get scammed.
Wishing you all the best
Mike
It is a huge relief that there are no legal issues with forsage. i heard about the platform for the first time about a month ago and i reluctantly invested in it about 3 days ago. i am glad i found your review and it is really clear and detailed. it has really helped me a lot. thank you
Thank you for your comment.
Just be careful with your investment.
I would withdraw the funds.
Forsage operates as a pyramid scheme and even though it seems like a good investment, the biggest flaw is that the only money that flows into the system is the money from new “investors” or members if you will.
Once there are no more new recruits, there is no income whatsoever.
Let me know if you have further questions
Mike
Please thelp me sell my account, unfortunately, l have fallen victim of this corsage thing 8 slots in X3, and 6 slots in X4, how do l recover my money and sell this account?
Hello,
I am sorry that you have fallen victim to the Forsage.
It is always better to do research and then make an investment.
There are many scams out there, just like Forsage.
As for your money – I am sorry but I can’t help you.
I do not work for the Forsage. The only way how to get your money back is to contact Forsage support, which I am afraid they won’t answer back (if they have one).
The only thing I can tell you – take this as a learning lesson. You have to move on.
If you have more questions let me know
Mike
Hi there! Thanks for posting a useful information.
You are welcome.
Thanks a lot for leaving a comment
Cheers:)
Mike
El que escribio este artículo y los que compartieron su opinión estaban tan equivocados por no profundizar un poco más en que era Forsage, no estoy suscripto, pero soy un etudioso de los contratos inteligentes. Para hoy 5-10-20 el proyecto forsage ethereum cuenta con casi un millón de participantes 969.887 uffff. El proyecto tron (otra cryptomoneda) en un mes ya cuenta con ciento setenta mil participantes 170.000. La parte técnica estuvo muy mal explicada.
Gracias for your comment Alfredo Castro.
I believe Google translator did a good job, so I understood your comment correctly.
Well, yeah – the number of members grows. And probably, it will be still growing for a few months more (maybe a year).
Many Pyramid schemes(or Ponzi schemes) used to run for a couple of years.
And the domain Forsage.io was registered only in February 2020. So give it a time.
The bottom line is that the way how they operate is illegal:
“Profit comes from other participants directly into your personal wallet.”
– this is from their website.
Ponzi schemes are illegal and again it is just a matter of time until Forsage crashes too.
One of the reasons why Illegal gift schemes are on the rise is because of the pandemic and people want quick money. In other words, it is just a modern get-quick-rich scheme where most of the members will lose everything.
So again, please stay away from this Ponzi scheme.
Hello there! this is an amazing review you have got here on Forsage.
I am sure the information in this post will be of great help to anyone who come across the Forsage.
For me, I don’t advice people to be part of any platform who depends on recruiting to generate a good cash as the last set of people will suffer for it.
Thanks for sharing this
You are welcome.
It seems that Forsage is being pushed by those who have joined.
They don’t realize that Forsage operates as an illegal gifting scheme.
I am glad you find the review helpful.
Hello there!
That is a very brilliant review about the authenticity of the Forsage platform. Truly, many people wants to make profits from cryptocurrrencies but at the same time no one wants to fall victim of a scam platform that will only yield them to be at loss.. Reviews like this helps people a lot to know which scheme to try out and which not to. Will do well to make further personal research about the company.
Thanks a lot for your comment.
I am glad you find it helpful.
Forsage is an illegal gifting scheme, but many people don’t want to see that.
Wow Mike this has been a thoroughly researched and delivered review. You not only bring to the attention another pyramid scheme that some like myself did’t know about, but your observations make it possible to create a basis for scrutinising other similar schemes. I like your mention about the missing connection with the founder on Facebook. Any legitimate business must have links with the owners of some sort. Thanks you for sharing this well done article.
thanks for stopping by and leaving the comment.
I am glad you like the article.
Forsage is just a pyramid scheme and hopefully, fewer and fewer people will fall for this site.
If you have any more questions let me know.
Cheers,
Mike
I was wondering what the Forsage was all about.
Wow, what a true pyramid scheme this appears to be!
I have seen many such scheme programs through the years and always wondered why someone would fall for it. I know, it seems like a dream come true. Just plunk down your cash, get a few others to do so, they get more to do so,…but through all of this line, no one has anything to show for it. There is no product. It’s pretty much just asking others to give you money in hopes of others giving them money.
While it seems crazy for people to jump in to something like this, the truth is that many do. If not, they would cease to exist.
Thanks for sharing this program and it’s complete lack of benefits. I’ll stay away from it.
Exactly – just an outright pyramid scheme.
In my opinion, this system will be shut down in a close future. But how many people will lose money with the Forsage?
Most of them don’t realize that only a few at the very top of this pyramid making the profit.
ce n’est pas un shema pyramidale puisque le premier ne gagne pas plus que le dernier. regarder tout les numeros et vous verrez des personnes numero 500000 qui gagnent plus que le numero 40 ! ensuite premier ou dernier, automatique ou manuel vous devez constamment remette de l’argent dans la matrice !! toute les entreprises quand elles n’ont plus de client ne fonctionent plus. est ce que pour autant cela veut dire que c’est un ponzi ?
Merci for your comment,
Forsage is simply an illegal gifting scheme.
Besides, Forsage is not a regulated investment company. There is no solid information about who is really behind the company. With that being said they can disappear without notice.
Anna, You shouldn’t be defending the Forsage, unless you are part of it and you want others to join.
If this is the case, you better withdraw your funds and run away.
wishing you all the best
Cheers, Mike
Excellent blog! Do you have any tips and hints for aspiring writers? I’m hoping to start my own site soon but I’m a little lost on everything. Would you suggest starting with a free platform like WordPress or go for a paid option? There are so many options out there that I’m completely overwhelmed .. Any tips?!
Hope you Read waptrick on my Site and give me some tips.
Thank you for your comment.
You can start with WordPress. There are many free videos on YouTube that teach how to work with WordPress. You can also check the link I have left at the end of my post. You can take free 10 lessons where you will learn how to create a website.
I hope it helps.