Is Forsage A Scam? Yes, It’s A Pyramid Scheme

Is Forsage A Scam

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 In A Nutshell

Product Name: Forsage

Product Description: Russian Crypto Ponzi Scheme

Forsage.io

Quick Summary:

Forsage guarantees big payouts at zero risk but this is deliberate and blatant deception. Don’t fall for it.

Ponzi schemes have been targeting people for decades but Forsage scammers add a 21st-century crypto twist to their investment scam. Like all Ponzi schemes, the wheels fall off as soon as the flow of new recruits dries up.

Want my advice?

Don’t sign up and definitely don’t recruit your grandma, friends or colleagues into this scam. 

Overall
13%
13%
  • Transparency - 5%
    5%
  • Reliability - 5%
    5%
  • Income Potential - 30%
    30%

Pros

  • Possible short term gains but unethical

Cons

  • No products or services to sell
  • Lack of transparency
  • Not sustainable in the long-term
  • Cash gifting is illegal per FTC regulations
Sending
User Review
42.81% (102 votes)

Wanna Make Money Online But Sick Of Scams?

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.

How I Make Money Online

If you’re ready to learn how to build a thriving online business, click here for the exact step-by-step formula I follow.

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.

4 Comments

  1. Damion 06/11/2020
    • Simon Crowe 06/12/2020
  2. Sandie Finn 05/27/2020
    • Simon Crowe 05/27/2020

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