Forsage promises a high-income opportunity, but is it legit or yet another scam?
Sometimes we don't see what's right in front of us because of our inner desire to make money. That's fair and I can completely understand the emotion behind wanting something you are “investing” in to succeed.
The problem is what you're investing in may be a Ponzi scheme. In this Forsage review run through the pros and cons of Forsage in a way that hopefully gives you some clarity on what this is really all about.
But before we get started: I am not affiliated with Forsage in any way. This review is me giving you my honest opinion to help you find the best money-making programs.
Forsage Review At A Glance
About: Forsage is Lado Okhotnikov‘s decentralised digital currency investment platform.
Price: Initial investment of $12.
Pros: None that we can think of.
Cons: Hyped-up claims, cash gifting scheme, shady currency.
Verdict: Forsage is highly reliant on recruitments. With recruits dying down, this system will collapse. Avoid at all cost.
OVERALL RATING
What Is Forsage?
Forsage is a cryptocurrency launched in February 2020. It's a decentralised digital currency where you don't need banks or governments to make financial transactions.
According to their marketing video, Forsage means fast and furious, which might also explain the speedy feline included in their branding.
But does that mean a fast and furious income or loss?
Forsage say their trading platform is 100% risk-free because all you have to do is recruit someone else into the program to recoup your losses… and here's our first sign Forsage is, in fact, a Ponzi scheme disguised as cryptocurrency.
After a bit of digging, I came across Forsage founder Lado Okhotnikov. In a video interview, he says Forsage uses smart contract technology which allows traders to trade without a middleman:
Forsage’s Bogus Claims Debunked
1. Investing With Them Has Zero Risk
Forsage confidently proclaims his system is foolproof and failproof, saying his system “exists in perpetuity and cannot be modified by any identity” – whatever that means!
This is what they said about Quadriga CX until it collapsed and everyone lost everything they put in.
And remember BitConnect mania? People believed they had nothing to lose until their entire life savings were wiped out when BitConnect got sued and went bankrupt.
Forsage is structured in exactly the same way BitConnect was so you don't need a crystal ball to know what's going to happen next.
Risk-free? I don't think so!
2. Instant Peer-To-Peer Payments
Peer to peer payment is doublespeak for cash gifting and it's illegal.
Not only that but like all pyramid schemes it's completely unsustainable. By very definition, it's the tiny minority at the top who rake in the cash at the expense of the 99% further down the food chain.
3. Forsage Is Safe Because It's A Blockchain Currency
Forsage argues investing with them is safe thanks to blockchain technology. Yes, blockchain is secure but the problem is there are many third parties involved.
You have the cryptocurrency exchanges, the people making transactions, the hardware creators and the crypto miners. So while the platform may be secure, there's zero security when it comes to the PEOPLE behind it.
Some of the shadiest scammers operate in the crypto space.
How Forsage Really Works
To join Forsage, you need to make a one-time investment of 0.05 ETH, which is around $12 as I'm writing this review.
Ponzi schemes need a consistent flow of money to survive and Forsage only lasts as long as there are new recruits coming in. The scammer behind this uses the funds from new investors to pay out the old investors and keep the scheme up and running.
Pyramid schemes collapse when they can no longer recruit new investors. This is why Ponzi schemes are unsustainable in the long-term and it's only a matter of time until the bubble bursts.
What makes the Forsage scam so dangerous is the fact they're based in Russia and have no regulatory oversight.
Forsage's Lack Of Products
While recruitment is still the main source of income for product-based pyramid schemes like Younique, Wikaniko, Zija and Total Life Changes, at least they have retail products.
Forsage have zero products and zero services to offer. The only money coming in is from recruits paying signup fees. The only opportunity is selling the opportunity itself.
Can You Make Money With Forsage?
Let me be completely honest with you: I do not invest in cryptocurrencies. I just don't see them as an astute long-term investment.
Can you make money with Forsage? Absolutely, yes you can.
You could go all-in and recruit as many of your neighbours, family and friends as possible and earn on the back of their signup fees.
The value of the cryptocurrency can also go up substantially in a very short space of time. As with any volatile investment, it can go up or down by as much 30% in a day depending on the financial markets, news events or high demand.
Like anything though, just because you might be able to make money with Forsage doesn't make Forsage legit.
Nor does it make the “I made money with it” argument any more convincing, (which tends to be the main angle used to recruit people into schemes like this.)
You've heard stories of people becoming millionaires overnight with cryptocurrency – that's exciting to read about and even more exciting if it happens to you.
The problem is there are way more stories of people losing everything as a result of cryptocurrencies dropping overnight.
Is Forsage A Scam?
Yes, Forsage is a scam. More specifically it's a Russian Ponzi scheme and as soon as there are no more new recruits Forsage's value evaporates.
All investments carry risk, but a cryptocurrency combined with a Ponzi scheme model is by far the worst investment you could possibly make.
Never invest more than you can afford to lose or better yet, keep your money in your account and lose nothing.
4 Reasons Forsage Is A Sham Of A Scam
1. Its Promises Are Too Good To Be True
Ponzi scammers entice victims by telling them this is a failsafe and foolproof way to make a lot of money quickly. Forsage's founders tell you investing your money with them carries no risk at all.
If it sounds too good to be true – it probably is.
2. Forsage Is Completely Unregulated
The truth is trading cryptocurrency is extremely risky. The industry is not regulated and Forsage isn't backed by any kind of government or central bank.
Stay clear of unregulated investments.
3. You Are Not Protected By SIPC
The Securities Investor Protection Corporation insures investors up to $500,000 if a brokerage fails or funds are stolen, but that insurance doesn’t cover cryptocurrency.
In other words, there's no failsafe should you invest your life savings and Forsage goes belly up.
4. Cash Gifting Is Illegal And For Good Reason
The SEC in the Phillipines has just issued a warning against investing in Forsage, accurately calling it a cash gifting Ponzi scheme.
Gifting clubs are illegal pyramid schemes where new club members pay in based on the promise of getting more back.
Gifting clubs are criminal enterprises. Forsage owners are guilty of a felony and anyone getting involved with Forsage is guilty of a misdemeanour.
Forsage Review: The Bottom Line
Get-rich-quick schemes never last long. Forsage will collapse as soon as the flow of new recruits dries up and there’s no more money coming in.
Then you can wave bye-bye to the money you invested and the relationships you have with the people you’ve recruited.
Hard work and solid training are what will help you build a real income-generating business online. Check out my Wealthy Affiliate review to find out more.
How I Make A Living Online?
After years of working in call centres, I finally figured out how to create a 5-figure monthly passive income stream and become financially free.
Thanks to the right training and a lot of hard work I kissed my old boss goodbye and booked a one way ticket to Thailand.
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What Do You Think?
After reading this review, do you think Forsage is a worthwhile and sustainable choice for beginners who want to start making legit money online?
Scroll down and share your thoughts with us in the comments section. I look forward to hearing what you think about it.
Simon Crowe is on a mission to help as many people as possible kiss their bosses goodbye.
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its a real shame how u prevent many people from getting what they deserve by just posting an article in your blog . clearly u r not totally familier how it even works u dont even know what ponzi is!
May be you can explain what a ponzie is and how forsage is not.
Why is FORSAGE Not a Ponzi Scheme?
Some of you have grown tired of answering this one! We’ll break it down for you! You get the answer and the supposed scam claim is busted.
A Ponzi scheme – is a planned fraudulent operation that has an obvious outcome. It’s a bubble that will inevitably burst for a number of reasons:
· Firstly, in a Ponzi scheme, old participants get paid with the money from new participants. Sooner or later the scheme operator decides to pull it to keep their profits. Ponzi’s WILL fail and be closed by its creator
· Secondly, a Ponzi scheme is always centralized! Every pyramid has an operator who can push the proverbial button to stop payouts and claim all the money. Once that happens, the pyramid is done.
Why is FORSAGE not a Ponzi scheme?
FORSAGE doesn’t have a single thing in common with the scheme above:
• All transactions are made between users: from wallet to wallet;
• The FORSAGE smart contract balance is always zero;
• FORSAGE doesn’t have an administrator who could terminate the project;
• FORSAGE is 100% decentralized;
• Investment math doesn’t apply here, what’s more, there is no investment to speak of.
Does FORSAGE have a product?
Yes! You get a product — a digital one, like an application or a game. Having bought it once, you can sell it an unlimited number of times!
Do old FORSAGE participants earn money from new participants?
No. If you don’t do anything and simply sit around waiting, there is no way to earn money with FORSAGE. The platform is built on blockchain technology, works without human intervention, and will continue working no matter what happens. It doesn’t matter if you joined the community half a year ago or just now — you have all the chances of earning a great income! SO,
· FORSAGE is fully decentralized, no administrator who can decide to close down the project;
· The smart contract balance stays empty, and all transactions are made between participant wallets;
· FORSAGE has a product, but it’s a digital one that can be sold an unlimited number of times;
· Doesn’t matter when you join the community — if you work, you get paid;
· Nobody can intervene in the platform’s operation. If you invite a new participant — you get paid directly to your wallet.
Blogs are just people’s opinion, that’s it!
Thanks for sharing your opinion! ????
Hi Simon,
Shouldn’t SEC in USA make announcement to notify people that Forsage is illegal.
Maybe they did and I missed it.
But shouldn’t there be some way for FEC to tell internet servers to filter forsage zoom meetings and shut them down?
The SEC can shut it down Ihsan and I’m sure they will like they did with so many other Ponzi/pyramid schemes. The issue is when they get round to it, but I assure you it is just a matter of time.
Hi, there are lot of zoom talks selling Forsage.
A friend just sent it to me.
I saw it and I got excited but now I realize how evil it is since it guaranteed 100% that eventually the majority who join late will lose all money they invest..
I think you can go to jail if your recruit people to it since it is not registered with SEC and I think it may be illegal to get others to buy such investments if they are not registered with SEC.
2. Forsage Is Completely Unregulated
The truth is trading cryptocurrency is extremely risky. The industry is not regulated and Forsage isn’t backed by any kind of government or central bank.
Stay clear of unregulated investments.
::: U are clearly quite dumb. This is EXACTLY what We The People want and need. These are some of the best parts of something like this. Not backed by govt or banks. –They are the scammers. And regulation? Hah! That’s Commie stuff. U are MADD if you think WE can’t handle our own affairs. Why do some people always have to have a ‘Saviour’ backing them??? It’s this time in our digital world that WE take over and roll the banks. USSA was bankrupt in 1933 already!!!
4. Cash Gifting Is Illegal And For Good Reason
The SEC in the Phillipines has just issued a warning against investing in Forsage, accurately calling it a cash gifting Ponzi scheme.
Gifting clubs are illegal pyramid schemes where new club members pay in based on the promise of getting more back.
Gifting clubs are criminal enterprises. Forsage owners are guilty of a felony and anyone getting involved with Forsage is guilty of a misdemeanour.
::Wow… OLD NEWS. Sec/Philippines ordeal is long over and CLEARED. If U YOURSELF ARE NOT INVOLVED WITH FORSAGE, U don’t know what yer talkin about. Ponzi scheme. Wow. Far from it. U gotta understand the inside workings of the system. Nothing Ponzi about it. If U still say there is, I want U to clearly explain it. Also, as I was looking at it, I never got the impression that it is a get rich quick. Also didn’t notice any guarantees about making money. Quite the opposite. It’s all up to what you do. I could keep going here but I get tired of ‘This is a scam and that’s a scam’ posters. I know, I know, you use this method to get people into YOUR PROGRAM. In my opinion, this method is a sham. -I will have a look at what you got though. Maybe I’ll write a scam report blog post on it. lol… Just kiddin. Shoot me a message…
Don’t listen to the Deep State People trying to play this down. We all know the world currency and economies are a mess. They want to keep up asleep. Living in fear. Just watch the News. Covid-19 now BLM and rioters. Most will never try something new because they rely on others opinions not their own intuitions. Time to wake up. My friend has made a lot on Forsage just in a few months. Money is money and this isn’t the same type on MLM. You are spending very little with good rewards and they don’t want you to know. So much on Google is a lie. We know about the technocrasy going on. Make sure you do your research. Even Robert Kiyosaki recommends Crypto and these things.
Lots of people make money with Ponzi schemes until they collapse – that does NOT make them legit. My friend made a lot of money at a casino in Vegas once, this doesn’t make slot machines a viable investment option.
People made a lot of money with Bitcoin until the bubble burst and with Forsage, it’s just a matter of time. Tell your friend to cut his losses and get out while he still can.
U got it right Damion!
The whole world needs a financial reset. Bankers etc are the scammers. Credit cards, mortgages, loans… all illegal contracts.
If you’re serious about what’s going on and really want to learn insider stuff, this guy from London UK has his shit together:
https://www.youtube.com/channel/UC_tkU-N-PEvddh4GRM1rkAg
Thank you so much.
I live in the UK and my friend from the USA is trying to get me on board.
This gives me information on which I can make my decision.
All best!
That is great to hear Sandie, thanks for taking the time to let us know this review was an eye-opener for you.
Buying any kind of cryptocurrency is less like investing in a normal foreign currency (backed by countries and their respective banks/assets) and more like going down to the casino and betting $100 on black at the roulette wheel and hoping that it turns into $200. Sure, you could win fast money but you could also lose it all in seconds.