Is Forsage scam or legit? Yes Forsage is a scam. Have you seen someone promoting this smart contract MLM on social media as a way to stack Ethereum? Maybe you’ve seen the lame hyped up marketing claims about Forsage being a legit decentralized matrix cryptocurrency project?
The truth is, Forsage is just a cash gifting matrix cycler scam and nothing more.
So lets review the details of Forsage.io including the products, the company, and the compensation plan in this Forsage review.
What Is Forsage?
Forsage is just a cash gifting matrix cycler ponzi scam and nothing more.
Forsage uses smart contract technology on the Ethereum blockchain, to automate the position cycling and peer to peer commission payments when referrals are made.
Under the hood, It’s a Pyramid Scheme ,money shuffle game with no product.
The SEC has already issued an advisory and a CEASE AND DESIST against Forsage warning the public not to place money into Forsage.
The Montana State Commissioner of Securities and Insurance alleges, “There is no product sold other than positions on the pyramid, and the only way to make money is to recruit more people into the pyramid.” According to the Montana Securities Act, “A pyramid scheme is an investment contract, and an investment contract is a security pursuant to section 30-10-103(24).”
“Forsage does not try to hide the fact they are a pyramid scheme. Members must pay with Ethereum cryptocurrency to the person above them to buy a position on the pyramid. The currency used to buy the position goes directly to the participant above.” Commissioner Downing said, ” To make money, the participant must then recruit three more people. The first two recruits’ money goes to the person who recruited them. The money from the third goes to the participant two steps up in the pyramid. Positions on the matrix double in cost to move up.”
Another big negative is the the Forsage compensation plan is a matrix cycler.
Matrix cycler’s have been around for years and never last. Once recruiting slows down, people stop getting paid. It is simple math that it will eventually fail and stop paying.
Most people can not recruit, so they will lose their money. They will simply put in more money than they will ever get out of it, and take a loss.
Forsage uses Ethereum and Tron cryptocurrency as methods of peer to peer payments, so no recourse/refunds once you send your crypto away to join this smart contract ponzi scam aka pyramid scheme.
Forsage has no products at all.
This is more evidence Forsage is just a cash gifting pyramid scheme disguised as “Crowdfunding”.
Pay Ethereum to join for the ability to refer others, to get paid Ethereum so they can do the same.
People think it’s all legit and some kind of revolutionary way to earn Ethereum daily, because its handled with smart contracts on the Ethereum blockchain.
Don’t be fooled by all the smoke and mirrors, its still an illegal pyramid scheme.
Forsage Compensation Plan
Forsage has two matrix sizes which are 3×1 and 2×2.
Forsage x3: A 3×1 matrix has three positions under your main position.
Forsage x4: A 2×2 matrix starts with two positions on the level 1 and expands to four positions on level 2.
These positions can be filled directly or indirectly.
Once you fill the matrix, you cycle out and get commissions in ETH as seen below:
x3 matrix (entry is 0.025 ETH of the initial 0.05 ETH buy in) – generates 0.05 ETH in gifting payments and entry into a new 3×1 matrix.
x4 matrix (entry is 0.025 ETH of the initial 0.05 ETH buy in) – generates 0.075 ETH in gifting payments and entry into a new 2×2 matrix.
You can buy more positions, there are 24 positions in total, 12 positions in each matrix.
Each position doubles in value as you go, from 0.25 ETH all the way up to the 51.2 ETH
Forsage also launched X Gold Matrix on Tron Blockchain smart contract with (TRX) because Ethereum gas fees are too high and the Ethereum network is slower.
You can read here the Forsage X Gold Review
Forsage will also be doing a re-boot with Binance Smart Chain using BNB token.
How Much Does Forsage Cost To Join?
The Forsage scam costs over $300,000 to buy all 24 positions in both matrices!
The entry fee is 0.05 ETH to buy your first position.
This will gives you a position in the x3 (3×1) matrix and the x4 (2×2) matrix. (0.025 ETH to each matrix.)
If you want to buy all the positions in the x3 matrix, that will cost you an additional 102.35 ETH, at today’s value of $1500 usd, that is $153,525 usd.
If you want to buy all the positions in the x4 matrix, that will cost you an additional 102.35 ETH, at today’s value of $1500 usd, that is $153,525 usd.
To buy all 24 positions will cost you a total of 204.7 Ethereum, at today’s value of $1500 USD each, this will set you back a whopping $307,050 USD! ???
Now, who in their right mind, would spend over $300,000 on a cryptocurrency cash gifting matrix cycler pyramid scheme ???
Forsage is a Ponzi Scam.
The Forsage Scam is simply an illegal cash gifting matrix cycler pyramid scheme that uses the Ethereum or Tron (TRX) cryptocurrency as payment methods.
Just because it’s handled on a blockchain with a smart contract, does not mean it is legit.
It’s marketed as a scam proof way to stack Ethereum daily with fancy words like: new generation, crowdfunding, decentralized, smart contract, but don’t be fooled by this.
It is not passive income either.
You will have to constantly recruit others and it needs a steady stream of new investment money to keep cycling or it will stall out, and you won’t get paid.
It’s simple math that it will eventually stop paying, that’s how all matrix cyclers work, they always fail.
Most of the money will be made at the top of the pyramid, from the owners, the owners stacked positions and the big recruiters that are experienced in promoting these bad mlm ponzi scams.
Most people will lose money.
Forsage is a Bad MLM.