Is Forsage A Pyramid Scheme – MLM Crypto Review
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 a multi-level marketing 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
Pros
None. There’s nothing about Forsage that I like.
Cons
There are no known owners. Getting your money back will be difficult or impossible 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 to 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 money on this platform is through recruitment. I do not care if they use crypto, 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 making money from this platform. You will likely lose your hard-earned money when you join, and you can also get into trouble with the FTC for promoting an illegal platform.
Why Do People Get Involved In Pyramid Schemes?
People “fall for” pyramid schemes because they hope
As a result, they “fall” for any scam 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 they can help you ” get rich quick for a modest investment.”
Don’t fall for that lie. Frankly, Wealthy Affiliate is the best platform I know of for helping you build a profitable online business.
Warning: The RED Flags of Schemes and Scams Online
It would be best to watch out for these things with multi-level marketing companies, as they are red flags you should not ignore. Taking note of these eight signs can save you considerable time and money.
- The Company does NOT offer a FREE Trial
This is a big one to look out for. Most information products are worthless, and if you could jump directly into those products and “try them out” before investing in them, you would never invest in low-quality substances. That is why they hide behind a payment. If their information is so good, should they not prove it by giving you a taste?
2. Companies That Don’t Clearly Outline Pricing
If you go to a sales page for a product and they don’t disclose the price clearly, you will likely get “duped.” Any legitimate company will offer clarity on pricing and have a pricing page on their website. MANY companies in this industry HIDE their pricing; it is unethical, and it will almost certainly scam you. Also, if the company charges hundreds or even thousands of dollars for their products or for joining their business “opportunity,” it should be of concern.
3. MLM Companies That Use Video Sales Pages / Squeeze Pages
Suppose you visit a “sales page,” and the only thing you see on it are exaggerated promises of quick money without minimal effort. In that case, this will almost certainly be an expensive, overpriced scam. This marketing tactic is used to HIDE pricing and hide the product itself. They typically ask for your email or a small payment, and then you will be put through an extensive and expensive sales funnel.
4. Companies That Don’t Have a High TrustPilot Rating
Forsage has a very poor Trustpilot rating of 1.9! TrustPilot is the place where you should get real consumer reviews about products/services that you plan on buying. If a company doesn’t exist on this website or has a rating lower than 4.5 out of 5 stars, then you may want to guess it second, and better programs and services will be available.
5. Multi-Level Marketing Companies That Sell “Riches” Without Telling You the Process
If you are being pushed by the idea that you are going to be “rich” without telling you what you will be doing to earn this money (in a specific way), then they are selling the sizzle…and chances are there is no “steak” after you make your purchase. Avoid programs like Forsage like the plague!
6. Companies Without an Easy Way to Contact Them
They are hiding behind something if you don’t have a direct way to contact the company to answer questions about their program. With Forsage, there was NO ONE you could contact if you had legitimate questions or concerns. That is the first clue, and I recommend you test it. If the company has an email address, email it. If you don’t get a response within 48 hours at most, then that is probably the sort of help you can expect in the future.
7. Companies That Don’t Offer Direct Access/Communication with the Owners
Who owned Forsage? Can you get help and communicate with them directly? If NOT, then this program is more than likely in the business of taking your money. CEOs in the opportunity world who are unwilling to communicate with their customers directly have a “too good for you” mentality, which should be avoided.
8. Companies That Are “Information” Only
If they provide you with “ideas” about how you could create a business without offering you all the tools, services, and levels of ongoing support you need to succeed online, you will have a tough time succeeding. Many companies charge you for their information and then tell you you must purchase all sorts of stuff to use the techniques taught.
When you look at the above eight points discussed, multi-level marketing platforms like the Forsage are not business opportunities you want to get involved with! My rating of this so-called “make money online opportunity” is 0 out of 8!
As you can conclude from the above information, multi-level marketing companies are not all what they claim to be. Too often, people put their hope and trust in someone else making money for them instead of learning how to create prosperity with their own online presence. People look for others to rescue them financially when, in reality, YOU have to come to your own financial rescue!
However, there is a BETTER OPTION if you want to create your own online business. There is a platform available that will teach you step by step how to build your own online business, an ethical platform whose primary focus is to help everyday people learn how to make money online, a platform where you can immediately have access to individuals who are highly successful with their online businesses. Introducing Wealthy Affiliate, The Industry Leader in the Online Business Space…
- Wealthy Affiliate (or WA for short) Offers a Free Trial
- WA Offers Clear Pricing
- WA Offers a comprehensive website
- WA has a High TrustPilot Rating
- WA is not a get-rich-quick scheme
- WA offers a clear way to contact the company
- You can contact Kyle & Carson directly
- WA offers tools and support
(1) Companies That Don’t Offer a Free Trial.
This is one of the key reasons I want to introduce you to Wealthy Affiliate. You can get a “test drive” to Wealthy Affiliate, but that doesn’t end, and there is NO credit card requirement. This is their Starter membership, including more than any paid product I have seen in this industry. Here are a few things you get with the COMPLETELY FREE Starter membership.
- One Free Profit-Ready Website (Hosting Included)
- Getting Started Training, 10 Full Video Lessons
- 7 Days of Full Mentorship & Expert Help
- Communication Directly with Kyle & Carson (the founders)
- Keyword and Market Research Tools
- The Affiliate Opportunity Platform
- Ability to Network with Millions of Fellow Entrepreneurs
- 100’s of training resources
- And Much More!
(2) Companies That Dont’ Clearly Outline Pricing.
Wealthy Affiliate’s pricing page clearly outlines three available memberships: a Starter membership (FREE), a Premium ($49/month), or a Premium Plus+ ($99/month). There are no upsells, and nothing more complex than this. You are not obligated to upgrade, but if you decide to, you can run a million-dollar online business utilizing the platform and tools that Wealthy Affiliate offers.
(3) Companies That Use Video Sales Pages / Squeeze Pages.
Wealthy Affiliate offers a comprehensive website where you can learn more about the exact process of building an online business and all of the platforms, technology, and services involved that are offered to you as a member. This includes a thorough outline of WA’s education, hosting, website, domains, community, and success elements.
(4) Companies That Don’t Have a High TrustPilot Rating.
WealthyAffiliate.com has a 4.8 STAR rating on TrustPilot. The owners personally get back to every comment, and this leads to the industry. It is tough to achieve a rating like this in any industry, let alone the make-money-online niche.
(5) Companies That Sell “Riches”.
One thing you will not hear from Wealthy Affiliate in their training or marketing is “get rich quick.” The reality is that to build a business, you first have to build a solid foundation and understand it. Wealthy Affiliate provides you with the tools, training, and platform you need to create a business of any size online (even million-dollar websites). Still, it would help if you were realistic about the process. It will take some hard work and dedication.
(6) Companies Without an Easy Way to Contact Them.
You can contact Wealthy Affiliate directly from their website without being a member. They have a contact form, and the owners freely share their email addresses if you need to contact them or have any questions. They are kyle@wealthyaffiliate.com and carson@wealthyaffiliate.com. Feel free to reach them directly if you have questions, and of course, as a member, you will have access to them within the community. Which leads me to…
(7) Companies That Don’t Offer Direct Access/Communication with the Owners.
Wealthy Affiliate is the most transparent company in the space and offers you access to Kyle and Carson, the founders, directly within the community. If you want help from them directly, ask. You can even access them for their help and mentorship within the first seven days of the Starter membership…so without paying a dime, you can access both owners directly!
(8) Companies That Are “Information” Only
Many things are required to build a successful business online, and Wealthy Affiliate includes all of them. To make an online business, you need a website, top-tier hosting, marketing and research tools, ongoing education of the latest marketing strategies, writing tools/platforms, and a way to find the TOP opportunities online. Not to mention support, mentorship, and expertise. These are ALL things that Wealthy Affiliate provides you with at any membership level, equipping you to create, grow, and manage a business at any level online.
No other company in the industry offers a free “test drive,” as they likely don’t have the confidence that someone would purchase a trial. WA gives you access to its platforms, websites, hosting, research tools, community, and support within the free membership…so there is ZERO risk, and you can decide if you ever want to purchase a premium membership.
Use Wealthy Affiliate To Build Your Online Business
Wealthy Affiliate is the best platform I know of that will help you build a profitable online business. The owners of Wealthy Affiliate, Carson Lim and Kyle Loudon, have made it possible to create a FREE account so you can try out the platform before becoming a Premium Member.
If you have struggled for years to build a successful business online or feel that you don’t have the “full picture,” Wealthy Affiliate has been designed especially for you.
What You Need To Do Next:
OK…Here’s what you need to do next – It’s very simple: First, STOP making excuses! You’re BROKE! Your finances are a JOKE, and you never have enough money to enjoy life truly. Second: Sign up for a FREE account at Wealthy Affiliate. Third: Get to work and participate in your financial rescue.
Why You Need To Do This:
You need to do this to give yourself and your family a better quality of life. It’s as simple as that. Give yourself and your family a better financial future. Don’t get caught unprepared financially like millions of people did during this COVID-19 pandemic. Look at how millions of people were unprepared financially because they kept procrastinating.
If you had taken the time and committed yourself to building your own online business, your finances could have increased to the point where you could take the impact without undue stress or worry. What about the next so-called “unexpected event” that will affect the world economy?
Will you be prepared for it? Do what you need to do NOW, and get the process started.The bottom line is this: The only person holding you back is YOU! There is NO EXCUSE for not trying Wealthy Affiliate.
The choice is yours, my friend…
Talk Soon,
Howard
