Welcome to our Forsage Review!
Is someone trying to recruit into this scheme claiming that it is the ideal way for you to get into cryptocurrency and make a fortune at the same time?
There has been a lot of interest in cryptocurrency, done correctly there is real potential to make money with it. But as it is relatively new, there is also a lack of understanding around it and that means there is a number of scammers who are taking advantage of this to entice newbies into parting with their money. Unfortunately, meaning they also lose this money.
That is why we are glad you are doing your research, as it is the best way to avoid any online scams and find only legitimate ways to make money online.
To be completely transparent, we are not associated with Forsage in any way. So, you can relax, we are not here to pitch or sell you anything.
We just want to help you get all the information that you need to know about Forsage. We will run you through everything you need to know about this company, including how much it will cost to join, how you make money with their scheme and ultimately give you everything to help you make a decision about whether Forsage is right for you or not.
Is Forsage a scam or legit? Let’s get started with a quick product overview…
Forsage Review Summary
Product Name: Forsage
Founder: Lado Okhotnikov (Allegedly)
Product Type: Cryptocurrency MLM & Crypto-Gifting Scheme
Price: o.o5 ETH
Best For: For the Owner
Summary: Forsage claims to be an MLM or Multi-Level Marketing company based on the cryptocurrency Ethereum. However, they are very open about the fact that the only way you can make money from their scheme is by recruiting others into the same scheme. This is commonly referred to as a cash-gifting scheme and is illegal practically everywhere in the world. There is no real product, recruitment is the only way to make money, so this makes it a pyramid scheme and not a legit MLM company. The only people that will make money here is the owner and the very few who got in there early and recruited like crazy, creating tons of victims along the way. Our advice is to avoid this scheme at all costs.
Table of Contents
What is Forsage?
Forsage claims to be a cryptocurrency MLM or Multi-Level Marketing company, but it is definitely not a legit MLM. It would be a better description to say it is a crypto gifting scheme, due to the only way for you to make money with their scheme is to recruit others into the scheme. It was created earlier this year and was started in February.
There is no information on their website about who is behind the company, all it reveals is that the domain (forsage.io) was privately registered on the 9th February 2020.
However, in a regulatory fraud warning, the SEC in the Philippines has outed Lado Okhotnikov as the owner of Forsage.
The Forsage Product Line
If Forsage was a legit MLM company it would have products or services available for you to promote and sell to make money, but Forsage lacks any of this.
The only “product”, for want of a better world you would be selling is the product you have just bought. You hand over the 0.05 ETH for the right to get others to buy the same thing and then you receive money from this process.
The problem is that cash gifting or crypto gifting is illegal and not sustainable. As soon as the recruitment stops, there is no further way for you to earn anything.
These schemes tend to be only short-term things, as they get found out, they will move on before the authorities get too interested.
How to Make Money with Forsage
For you to make money with Forsage, you will be required to recruit others into joining Forsage themselves. That is the sole way for you to make money with the scheme. There are no products or services available with Forsage.
As recruitment is the only way of you making money with Forsage, it makes it a gifting scheme and illegal.
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Is Forsage A Pyramid Scheme?
It is important to point out that not all MLM’s and companies that utilise recruitment are pyramid schemes, but in the case of Forsage, it most definitely is.
To understand what we mean, take a look at the picture below:
There are many different ways that a pyramid scheme can take place. The main reason why Forsage is a Pyramid Scheme is because that their business is based only on recruiting. You have to recruit to make money.
They have no products or services for you to sell or products that you can use without the need for recruiting.
The problem is, this is bad (and illegal) and the reason is that the recruitment will slow down eventually.
When this happens, the money that was being used to pay everyone disappears. There is no other source of income into the scheme, other than bringing new people in.
When this stop, the system collapses and only the owner and the people who got into the scheme really early make any money.
Everyone else loses money.
Recruiting Is Really Hard...
For arguments sake, let’s for a minute say you do decide to give Forsage a go. Even though, they have so many red flags and you could get yourself into legal trouble for promoting a pyramid scheme if you did.
It is important to point out that the only way for you to make money with Forsage is with recruitment. But recruitment for a legit scheme is hard enough, let alone an illegal one.
One of the biggest problems with MLM’s is the pressure to recruit, and even then, people struggle to recruit people as they need to hand over a high amount to get started and not everyone is geared up for sales and recruitment.
But, with Forsage, you have the added difficulty of promoting a scheme that has no products or services to sell. This will raise red flags with people. People are sceptical of a scheme that lacks any products. Most understand this to be illegal or possibly a scam.
They will probably do some research and find out that this scheme could lead them to trouble.
Even if you were able to recruit a couple of people, you will still depend on their ability to recruit others for you to make any money.
This is why Pyramid Schemes collapse. When they are new, there might be a few people who get caught in the trap. But once it gets a little more established, it is only a matter of time before it collapses, and you will lose any money that you have invested.
If the FTC or authorities get wind of the scheme, you could forfeit any money you have invested in the scheme and there could even be legal proceedings against you promoting an illegal pyramid scheme.
SO, not only is the recruitment for this type of scheme extremely difficult. You risk committing a criminal offence. A perfect example of this is Digital Altitude or MOBE. They were both outed by the FTC and were closed down, with many people losing their money.
Getting Started with Forsage
To get started with Forsage, it is going to cost you an initial investment of 0.05 ETH. This is about $19.90 (USD) at the current exchange rate.
Forsage Compensation Plan Explained...
Compared to a normal MLM compensation plan, Forage’s compensation plan is pretty easy to understand.
When you invest your initial fee, which is paid in Ethereum, this then puts you into a two-matrix cycler position.
The first cycler is 3 x 1, which only requires 3 positions to fill.
The second cycler is 2 x 2, this requires 6 positions to be filled.
This works by you recruiting two people, and then each of these people will have to recruit two people.
Once you have filled all of the positions, you get paid. You can then move up to the net cycle using the profits from the last cycle.
This time, though, you will have to pay 3 times what you did the last time. This amount will be 0.15 ETH. You fill the positions like you did last time and then get paid. You can then use your profits to buy into the next level.
This works all the way up to the highest levels.
Here is how much it will cost to move up to each level:
- Level 1 – 05 ETH
- Level 2 – 15 ETH
- Level 3 – 35 ETH
- Level 4 – 75 ETH
- Level 5 – 55 ETH
- Level 6 – 15 ETH
- Level 7 – 35 ETH
- Level 8 – 75 ETH
- Level 9 – 55 ETH
For context, 0.05 ETH is around 19.90 USD and 25.55 ETH is equivalent to about $6387!
The pay-out at the 9th level would be $12,658.
Just a reminder, anyone you recruit and bring into the scheme, you would basically be defrauding them and could get into legal trouble for doing so.
The whole compensation plan is solely based on your ability to recruit others in. If you didn’t recruit enough people, you would not get anywhere near the financial figures they are talking about.
What We Liked About Forsage
I hope by now, you would have understood our impressions of Forsage and for that reason, we couldn’t find anything we liked about this scheme. Anyone who is trying to recruit you in is basically defrauding you. If you think this is a way of making money, I would strongly suggest you check out our #1 Recommended Product instead as Forsage will soon collapse.
What We Didn't Like About Forsage
Here is what we didn’t like:
#1 Illegal Gifting Scheme
Regardless of the fact that you are on the block chain, using cryptocurrency or anything like that – gifting schemes are illegal. You can get into some serious trouble for promoting them. There is also the fact that you have to recruit people into this scheme for you to have any chance of making any money. Anyone you recruit directly, would make you responsible for any legal action for doing so.
#2 It’s a Pyramid Scheme
Forsage lacks any real product or service. You are not actually receiving anything for your investment, only the option to promote the scheme to others. All you are doing is soliciting new investments into the scheme by recruiting new people.
This makes Forsage a Pyramid Scheme, hence an illegal and awful way to make money.
#3 It Will Collapse
There is no getting away from the fact that it is only a matter of time before the authorities close in on this scheme, or the owner closes down the scheme before that happens. The owner will typically do this, so they can restart the same scheme with a different name and possibly a different cryptocurrency to deflect interest from the FTC, etc.
But whether it is due to a lack of recruits coming in (and cutting off the supply of money) or the way we have just described, this scheme will not last long at all.
When it does collapse, any money invested into it will be lost.
#4 Owners Are Trying Hard to Remain Unknown
The only reason we know who the alleged owner is, is because of the SEC thread in the Philippines. That document outed the owner as Lado Okhotnikov.
If it hadn’t been for that, we would have no clue who the owner is. There is some BS on their website about not needing to reveal their owner, but this is a classic nod to it being a scam. It is designed that way, so that when it does collapse (and it will), you don’t know who to try and claim your money back from.
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My Forsage Review - Is Forsage a Scam?
There can be no real doubt about whether Forsage is a scam or not. The only way you can make money is by recruiting others into the scheme. There is very little information about who the owner is, and the fact that it is a crypto gifting scheme is enough for us to clearly state that this is a scam, designed to line the owners pockets and leave you empty-handed.
Plus, the fact that you could get yourself into serious trouble with the authorities if you do get involved and then actively recruit other people into the scheme too.
There are just too many risks and problems with this program, and we advise anyone to keep well away from it.
How We Make Money Online
Cash gifting or Crypto gifting schemes are illegal and regardless of what these guys tell you, you could get into a lot of trouble and still end up no closer to earning any real money from their schemes.
If you are looking for a legitimate way to make money, which has much lower risks and much lower costs associated with it. You should check out the way we make money online:
We recommend Affiliate Marketing. It is our top recommended business model for anyone wanting to make money online.
The reasons are simple…
- You don’t have to recruit anyone to make money
- You have the freedom to promote any products or services you want and not get restricted by only promoting products from one MLM company
- NO face-to-face Selling is involved
- It is FREE to get started
In fact, with affiliate marketing we are close to earning a 4-figure monthly passive income stream. With the right help and guidance, you can too. Click here to find out about our top recommended training platform for learning affiliate marketing:
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Thanks for checking out our Forsage review. If you have any questions or comments to add to our review, please write them in the comments section below. We would love to hear from you and will get back to you just as soon as we can. 😉