Forsage is a crypto MLM company that uses Ethereum which is one of the major cryptocurrencies out there. They make it seem like a great opportunity to earn money, but is Forsage a pyramid scheme?
This review was created for all of you who keep receiving invitations to join Forsage, but are not sure whether Forsage is a scam or legit.
Below you will find all the information you need in order to make the right decision. I will cover topics such as, ”what is Forsage”, ”how does Forsage work”, price to join, Forsage compensation plan and more.
By the time you are done reading this Forsage review, you will know whether it is worth your time and money.
Forsage Review Summary
Price to join: .05 ETH
Money making method: Recruitment, gifting
Do I recommend? No!
Overall Rating: 0/5
Summary: Forsage is an Ethereum based cash gifting pyramid scheme. They do not have any real product or service. The only way to make money is through recruitment. This is called a pyramid scheme and is illegal no matter where you are in the world.
The only ones who make money with Forsage are the ones who created it and the people who joined early and started recruiting like crazy.
In other words, you will not make any money with Forsage. In fact, you are most likely to lose money.
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What Is Forsage About?
Forsage is an MLM company in the crypto industry. It’s also known as a crypto gifting scheme and was launched in February, 2020.
When I took a look at Forsage’s homepage, I immediately noticed that something was wrong. They did not have any product or service. The only way you can make money with Forsage is by recruiting others.
This makes Forsage a pyramid scheme. Gifting schemes and pyramid schemes are illegal. But that’s not the only red flag that I saw. In fact, the whole company seemed like a giant red flag.
There is no information about who owns or runs the company. They even claim that Forsage doesn’t have an admin. This is a total BS. It’s obvious that someone has created this system and profits from it.
The real question is not who runs the company, but why is the founder so afraid to reveal himself.
If a company is not fully transparent about who the owner is, think twice before joining or handing over any money.
How Does Forsage Work?
Forsage does not have any product or service. Making money with Forsage happens through recruitment. This is more than enough proof that Forsage is a scam and a pyramid scheme. But I will discuss that in a moment.
In order to use Forsage, you will need the Metamask wallet for desktop or the TrustWallet for mobile devices. You will have to fund your wallet with Ethereum.
After that you can purchase the x3 matrix, which will cost you 0.05 ETH. Then it will connect to your Metamask wallet/TrustWallet so that transactions can happen automatically.
If this is the first time you are setting up these wallets, make sure to save your recovery seed phrases.
If you don’t know what that means, don’t worry, because you don’t even want to get involved with Forsage. Let me explain you why in the next section.
Is Forsage A Pyramid Scheme?
I already mentioned that Forsage is a pyramid scheme, but let me go a little more in detail about it.
First of all, I want to say that not all MLMs are pyramid schemes, but Forsage definitely is. Take a look at the image below:
This is what a typical pyramid scheme looks like. It starts with one person who creates a company. In the case of Forsage, we don’t even know who that person is.
Then the founder starts recruiting members, who starts recruiting new members, who recruits more people and so on. This goes on and on, until one day the whole pyramid collapses.
The main reason pyramid schemes are illegal is because there is no real product and money is made based on recruitment. That’s exactly the case with Forsage.
The bad thing with recruitment is that it can’t go on forever. It eventually starts to slow down until it reaches a point where no one wants to join. This means that the source of revenue stops and there’s no money to pay everyone out.
When that happens, the system collapses and the only ones who end up being profitable are the ones at the top. Everyone else loses money.
Below you can see a video explaining how to spot a pyramid scheme:
How Much Does It Cost To Join Forsage?
It will cost you 0.05 ETH to join Forsage. This is around $17.
This gives you a position in the 3×1 matrix and the 2×2 matrix.
You also have the option of buying all positions in the first 3×1 matrix. This will cost you an additional 102.35 ETH. The same applies if you want to buy all the positions in the 2×2 matrix.
Note that this is almost $50,000 spent on a cash gifting scheme (which are illegal). Does that sound like a good opportunity?
Forsage Compensation Plan
Forsage’s compensation plan is pretty easy to understand.
First you have to invest 0.05 ETH in order to join Forsage. This puts you into a two matrix cycler position. The first cycle is 3 x 1 and the second one is 2 x 2.
In the first cycle you have to recruit 3 people. In the second cycle, you need to recruit 2 people and then your referrals have to recruit 2 people each.
Once that is completed you get paid and moved on to the next level. In order to enter the next level you have to pay 0.15 ETH (around $51). Once you have done that, you start repeating the same process over and over again.
Each time you go to a new level, you invest the profits from the previous one. Below you can see how much you have to pay for each of the 9 levels.
- Level 1 – .05 ETH
- Level 2 – .15 ETH
- Level 3 – .35 ETH
- Level 4 – .75 ETH
- Level 5 – 1.55 ETH
- Level 6 – 3.15 ETH
- Level 7 – 6.35 ETH
- Level 8 – 12.75 ETH
- Level 9 – 25.55 ETH
25.55 ETH is equal to about $6387.
Keep in mind that for each person you manage to recruit, you increase the chances of getting into big trouble for promoting such an illegal scheme.
Can You Really Make Money With Forsage?
If you haven’t understood it by now, let me say it directly.There is no way that you will make money with Forsage.
The reason behind that is that the only way to make money with Forsage is through recruitment and recruitment is VERY hard.
Most people underestimate how hard it is to make money by recruiting others, especially to a crappy system like Forsage. Sooner or later, these people realize that no one wants to be recruited and they start convincing family and friends to join.
This can result in broken relationships with your closest ones. Do you really think it will be worth it?
I am not a fan of MLMs, even if some of them are legitimate. My website is all about reviewing different business opportunities and teaching people about affiliate marketing, which I believe is the best business model.
Why It Is Hard To Succeed With MLMs
It’s a fact that more than 99% of people who join an MLM company, end up losing money. People underestimate how hard it is to make money by recruiting people.
The image below shows some pretty shocking facts about MLMs:
Forsage Pros And Cons
There is nothing I like about this system.
The owner is not disclosed: Forsage does not mention anywhere on the homepage who runs or owns the company. As I mentioned earlier, pyramid schemes like Forsage are destined to collapse. And when that happens, there will be no way to get your money back.
It’s a gifting scheme: No matter how legit they try to seem, it’s a fact that gifting schemes are illegal and you can get in serious trouble if you got caught promoting them.
Pyramid scheme recruiting: There is no product here and you can only make money by recruiting, which is really hard to do. Pyramid schemes are horrible and illegal business models.
Is Forsage a Scam?
Yes, Forsage is a scam and I can say this without a doubt.
Recruitment is the only way to make money with Forsage, which makes it a pyramid scheme. No matter if the recruitment is happening on the blockchain or using crypto, Forsage is an illegal gifting scheme.
There is no way you can be profitable with Forsage. Systems like that bring profit only to those who created it. Those who join the Forsage early may earn something as well.
But if there are already hundreds of members signed up, forget that you will earn anything by joining now.
My advice for you is to stay away from Forsage because it’s the typical Ponzi scheme and it can collapse at any time.
Here’s A Better Opportunity
Now that you know that Forsage is a bad business model, let me tell you about a better opportunity.
The model that I prefer for making money online is called affiliate marketing. Affiliate marketing is about promoting other people’s products and receiving commissions each time someone buys. You don’t have to create or own a product.
You will be partnering with companies like Amazon, Apple, Nike, etc. They will give you special links for promoting their products. Your only job is to drive traffic to these links. The way you do that is by creating valuable content around the products you are promoting.
I can go on and on about how affiliate marketing works, but I think that the most convenient way for both of us is to share with you a training platform that can teach you everything step-by-step.
The training platform that I recommend is called Wealthy Affiliate. Wealthy Affiliate teaches complete beginners how to start a profitable affiliate marketing business around their passion.
The good thing about Wealthy Affiliate is that it is FREE to join. You can create your FREE account here and get access to the first 10 lessons.
They are enough to give you an idea of what affiliate marketing is about. In the first 10 lessons you will learn:
- how affiliate marketing works
- how you will be making money
- how to choose a profitable niche around your passion
- how to build a free website
- creating content
- keyword research, SEO, and more
That was it for my Forsage scam review. I hope you now understand that Forsage is a pyramid scheme and that it will not make you any money.
If you happen to have any more questions about Forsage, feel free to leave them in the comments and I will get back to you as soon as possible. 🙂