If you’re reading this blog post, you may be wondering about the legitimacy of Forsage and asking yourself Is Forsage A Pyramid Scheme?
Forsage is an MLM platform that operates using cryptocurrency that gifts people Ethereum.
This review will tell you all you need to know about this platform so you can tell if it is a scam or legit.
Similarly, if you have questions running through your mind about the authenticity of this platform, this Forsage review is for you.
Is Forsage a Pyramid Scheme? – Quick Summary
- Product: Forsage
- Registration cost: 0.05 ETH
- How to earn: Gifting and Recruitment
- Recommendation: Not recommended
- General rating: 0/10
Forsage is nothing more than a gifting platform, and its operations are illegal in almost all countries across the globe.
They do not offer any real product, and the only way to earn on this platform is through recruitment, which makes it a pyramid scheme.
The owners, as well as those who were among the first to join, are the only people who will make money on this platform.
I recommend you stay away from Forsage if you don’t want to lose your hard-earned money.
There are other better, legit, and more interesting ways to make money on the internet.
Does Blockchain Make Any Difference?
Forsage is a gifting scheme that uses cryptocurrency. The platform was created in early 2020 and began operations in February 2020.
They get most of their traffic from the United States. There is no product or service offered on the platform that one can use or sell to earn.
Recruitment remains the only way to make money on the platform. This is a HUGE red flag for me.
Earning via recruitment alone is illegal. Also, you will not find any information on the site about the people who own or runs this company.
I know some people will argue that since Forsage deals with a cryptocurrency that uses blockchain, a decentralized network, then there is no need to know the owner.
That reasoning is a big lie and do not fall for it.
Just know that a group of scammers owns the site.
Someone built the company’s website, and he or she is making money from it.
Another thing I noticed was the presence of Russian on the platform’s default English language site, which suggests that someone fluent in Russian is behind Forsage.
The Philippines SEC, in a regulatory warning for fraud, listed Lado Okhotnikov as the mind behind Forsage.
This links with affiliate promotional materials offered by Forsage, which cites Okhotnikov as well.
It appears that Okhotinov lives in Moscow. However, posts on social media show that he lives in Tbilisi, Georgia.
Is Forsage a Pyramid Scheme?
Any platform that only makes money from affiliate recruitment is a pyramid scheme.
However, have at the back of your mind that not all MLM companies are pyramid schemes.
Once there is no product or service to sell, and the only way to earn is when you recruit people, then you can call the company/platform a pyramid scheme.
Pyramid schemes are illegal. The platform collapses eventually when there is no money to pay members since there is no revenue source.
Everyone loses money, except the owners and people who joined early.
Recruitment is Difficult
Let’s assume you decide to give Forsage a try despite the red flags mentioned in this post.
In order to make money, you will have to recruit people to register and invest, which is a difficult task.
Naturally, people are skeptical when they come across a platform that does not have products or services to sell.
Most people are aware that a business that relies solely on recruiting is not legal and is probably a scam.
Recruiting people on your own is not enough because you still need to wait for the people you recruited to bring in new members.
Making money through recruitment is horrible. Why put yourself in this kind of pain and risk.
Forsage is similar toothed Cryptocurrency MLMs I’ve reviewed such as:
Compensation Plan Offered by Forsage
You can easily understand the Forsage compensation plan. When you join, you will be asked to invest 0.05 Ethereum; doing this will place you in a two-matrix cycler position.
The first cycler, which requires just three positions to fill, is 3 X 1
The second cycler is 2 X 3, which requires six positions to fill. The two people you recruit will have to recruit two people.
You get paid once you fill out all positions, and you will be promoted to the next cycle using earnings from the previous cycle.
Now, you will pay 0.15 ETH, which is 3X more than the payment you made when you joined.
To get paid, you will have to fill out the positions the same way you did the last time.
Once you are paid, you will have to use your profits to purchase the next level.
Just know that you are defrauding anybody you recruit to join, and you could be penalized for doing so.
Forsage Pros and Cons
None. There’s nothing about Forsage that I like.
No known owners. It will be difficult or impossible to get your money back when this platform collapses.
Since the owners are not known, there is nobody to hold responsible or accountable.
Illegal gifting scheme: Whether blockchain or not, gifting schemes are illegal, and you can be in legal trouble for promoting them.
Pyramid scheme recruitment: The only way you can make money is through affiliate recruitment.
There is no retail product or service to sell, which according to the Federal Trade Commission means that the company is operating illegally.
Making money through a pyramid scheme is horrible and illegal.
Is Forsage a Scam?
I don’t need to think twice about it. Forsage is a scam.
The only way to earn on this platform is through recruitment.
I do not care if they use crypto or blockchain or cow chips; illegal is illegal, no matter how it’s rolled out to the public.
Do not fall for the testimonies of people who are making money from this platform.
You will likely lose your hard-earned money when you join, and you can be in trouble with the FTC as well for promoting an illegal platform.
Why Do People Get Involved In Pyramid Schemes?
People “fall for” pyramid schemes because they hope
Many people still have the mindset of trying to get something for nothing and mistakenly think there’s some easy way to make money online.
As a result, they “fall” for any and all kinds of scams to “get rich quick.”
You cannot “get rich quick” with internet marketing.
Can you get rich slowly? Yes.
Unscrupulous scammers will have you believe that for a modest investment, they can help you to “get rich quick.”
Don’t fall for that lie.
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