Welcome to my Forsage review!
You may have heard of Forsage as you’re searching for a company to invest in.
They are in the cryptocurrency niche, which means that they don’t have products or services to sell.
Therefore, you might wonder—is Forsage a scam? Are they a pyramid scheme in disguise?
If you’re looking for answers, then you have come to the right place.
In this review, I will help you clear your doubts and come to a conclusion about whether you should invest or not.
Before without further delays, let’s begin…
- Name: Forsage
- Website: forsage.io
- Founder: Undisclosed
- Price: Initial investement is 0.05 ETH or $10.
- Recommended?: NOPE!
What is Forsage?
Forsage is a Multi-Level Marketing (MLM) that’s running a cryptocurrency business. The company claims to be the first 100% decentralized smart contract.
They do not offer any products or services. This instance may lead someone to think that they are a pyramid scheme.
You have to take note that retail sale is one of the most basic identifying features of an MLM.
There is not much information about the company, such as who are its founders, current owners, and the board of directors.
There was no clear date of inception, but it’s said that it was supposedly created on February 6, 2020.
If so, it still doesn’t excuse them not to disclose important information from potential investors.
Again, you can see that there’s no relevant information on their website. All you see are unclear definitions of blockchain and cryptocurrencies.
Also, it is to be noted that they are not the first decentralized contract. It was proposed in the 1990s, long before the blockchain platform was introduced.
In addition, Ethereum supports smart contracts that are decentralized since 2015.
With no disclosure, even the most basic information about the company, you may have to think long and hard before investing or giving them any money.
Having no products to offer may lead some to question immediately—is Forsage a scam?
Let’s find out the answers…
How you earn in Forsage
Although you may find some sort of variety in how MLMs do business, the concept is just all the same essentially.
Members of an MLM primarily earn through retail sales and recruitments.
While most MLMs have specific ways to earn income, Forsage provides no detailed compensation plan.
They have no products or services to sell, which makes recruitment the only source of income. This already raises a red flag that they are indeed a pyramid scheme.
Pyramid schemes are completely illegal in most countries, like the United States and Canada.
The only way for you to earn is to create a large downline network. As I said, no products or services to sell, the only thing you get is a promise of returns.
But still, they are considered as a cryptocurrency MLM, which explains why they’re still in business.
Upon registration, you pay about 0.05 ETH (ether), which is about $10. You basically earn income through the following modes—
- When you are able to make someone signup through your so-called affiliate link, then you earn 0.025 ETH from their registration fee.
- The remaining 0.0475 ETH is sent to the upper lines
The compensation plan surely resembles a pyramid scheme, which is why I do not recommend Forsage in any way.
You better save you money for other investments.
If you’re looking for a better investment that yields higher and more reliable income, then you have to check out Affiliate Marketing.
It is risk-free and no initial membership fees.
How can I join Forsage?
As I mentioned, Forsage does look like a pyramiding scheme, and I do not recommend it.
But if you still want to try luck, then try it at your own risk.
To redirect to the signup page, click here.
The registration fee is linked to your initial investment, which is 0.05 ETH or around $10.
It’s stated that the transaction between the investor and Forsage is handled through what is called a smart contract.
It is said it can be accessed through two different wallets. Now, these wallets are explained to wok depending on what you are using. Is the transaction through a smart device (phone or tablet) or personal computer?
The devices are differentiated because of the platforms used. For example, if you’re using smart devices, then it requires the member to use Trust Wallet.
Or the MetaMask Wallet will be used if the potential new member is a desktop computer.
What is a Smart Contract?
A Smart Contract is a self-executing contract between Forsage and its potential investors. This means that it immediately takes effect without formal legislation.
Digital wallets are required because it is where the monetary transactions are processed.
Signing up with the Trust Wallet (Smart Devices)
It’s a platform you can easily download from Google or Apple Play Store.
At any time, you will be asked to keep a twelve-word seed phrase. For security purposes, you have to keep it safe and not to share it with no one.
Once the wallet is set up, you have to load it with a sufficient amount to cover the initial investment.
Signing up with the MetaMask Wallet (Personal Computers)
When you’re using a personal computer, you can sign up through metamask.io.
You will also be given a twelve word see the phrase. And for your security, you’ll be asked to keep it safe and not to share it with anyone else.
Can you make a reliable income from Forsage?
Without any products or services to offer, they are suspiciously a pyramid scheme even though the business is labeled as Multi-Level Marketing.
Either a Pyramid Scheme or MLMs, it is not a reliable source of income anyway.
The business model of MLM is so flawed that 98% of people who join them loses money instead of earning anything. This was elaborately discussed in Jon Taylor’s book, “Multi-Level Marketing Unmasked.”
It was further explained that MLMs fail to meet expectations because of two things—recruitment and capitalization.
In the case of Forsage, it appears that your only main source of income is through recruitment. If so, then earning any income in Forsage is much difficult than any typical MLMs.
Recruitment often leads to failure because you have to build your lower network constantly.
If you’re looking for better alternatives, then I’m sharing with my best work-at-home recommendation.
Here Is My Best Work At Home Recommendation For Newbies!
Is Forsage a scam?
As explained in the last section, they are labeled as a Multi-Level Marketing despite not having a product or service offering.
What they clearly offer is a business opportunity through cryptocurrency.
You may want to avoid this business as a potential investment and search for other alternatives.
Without any products to offer, some may argue that they are indeed a pyramid scheme or just plainly a scam.
Whether Forsage is really an MLM, they’re still not a reliable source of income. I do not recommend them or any MLMs for that matter.
Since they are relatively new, there are no complaints or whatsoever as of now. But time will eventually show their whether they’re a pyramid scheme, an outright scam, or legitimate.
What I Don't Like About Forsage
The success of the MLM member is dependent on their ability to persuade someone to grab the so-called business opportunity.
You may have to aggressively recruit new members since it looks like the only source of income.
Not accredited by the BBB
The Better Business Bureau or simply the BBB is one of the ways people check the credibility of a business.
Although not having a credential in the BBB doesn’t immediately that the business is fraudulent, it may definitely raise some doubts to some individuals and affect their decision-making in general.
It may be a Pyramid scheme
As repeatedly emphasized, the business appears to be more of a Pyramid Scheme than an MLM.
A Pyramid Scheme is illegal for a good reason.
In an MLM setting, you receive value in return for your so-called investment. These values are in the form of merchandise which you can sell later to make retail sales.
A Pyramid Scheme only gives you a promise of returns in exchange for your investment. It is purely money with no assurance of making any income.
Nevertheless, making such investment is a high risk, with the probability of incurring losses is much higher than earning anything at all.
What I Like About Forsage
So far, I find no positives with Forsage, and I recommend that you look for other businesses to invest your money with.
MLMs are difficult to make any profits, so much more if the business is suspiciously a pyramid scheme—with no products to sell, some may actually think that they are.
Check out the description below if you want to learn a better way to earn income.
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I hope my review has somehow enlightened you on whether this is good an investment and answered the question that may be going in your head—is Forsage a scam?
As of now, there are no signs that they are, but I do not want you to take the risk and lose your hard-earned money.
But if you still want to take the plunge, and test them yourself, then you may do so at your own risk.
As I repeatedly emphasized in this review, there are far better options that have no risk and require no initial investments to begin with.
Continue to the next section if you want to know one option…
Why I choose Affiliate Marketing over Multi-Level Marketing
Yes, Affiliate Marketing is one of the options that you may have. It is far better for several apparent reasons.
It is as follows…
Affiliate Marketing Is Better Than MLMs Because...
Cheaper & Way More Profitable!
You Don't Need To Recruit or Harass Your Friends To make Money!
No Start-up Costs or Confusing Compensation Plans!
You Don't need to buy any starter kit or product!
Promote any Product (or multiple products) you are interested in!
No House Parties or Facebook Classrooms!
Interested? Click On The button Below To Get My Free Step-By-Step Guide!
In Affiliate Marketing, you will use an affiliate link. And you earn income as soon as someone engages that link and eventually purchases the product or services offered by the company.
If you want to learn more, then tickle the description above.
Thank you for taking the time and reading my “Is Forsage a scam?” content, and I hope it helped you in your decision making.
Until next time!
2 thoughts on “Is Forsage A Scam? Or Are They A Legit Crypto MLM?”
Its normal to win and lose when investing. But its heart breaking when you know you have been cheated. I was caught up in a scam with a scam broker last year that cost me BTC. This guys came up with a fake story of being hacked when it was actually an insider affair. Luckily i was able to track and recover my funds,
Thanks For sharing your experience Herper!