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.
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.
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.
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:
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,
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!