Is Forsage crypto a decentralized networking platform or a scam?
A friend just called to ask if I have heard of Forsage. He said the platform’s ROI for users was 100%, and he wished to get started. He believed, however, that I should join him. Luckily, a colleague had brought it up, so I decided to learn more about Forsage crypto.
You’ve probably had a similar encounter as well. That’s presumably the reason you’re reading this article to find out if it’s legit. If you want to discover if Forsage.io is worth your money, read this post all the way through.
- What is Forsage?
- How Does it Function?
- Website Review of Forsage
- Is Forsage Legit?
- How to Earn on Forsage
- Final Thoughts
What is Forsage?
Forsage crypto is a fully decentralized networking system based on Ethereum, Tron, and BUSD smart contracts that globally link people and unlock the endless potential of the new financial system.
The Forsage smart contract is a payment system that enables peer-to-peer reward payments between its members. The transactional history of all Forsage network users is permanently recorded and widely stored by network nodes on the Ethereum blockchain.
Forsage.io promotes itself as a crowdfunding international platform that distributes affiliate commissions among its members. This simply implies that to make money, you must recruit people; just like my friend and colleague who wanted to recruit me. Are you prepared for that? Will they pay you?
How Does it Function?
Forsage crypto operates similarly to a program that distributes rewards, with users aligned vertically based on connections made through referrals.
To get started on Forsage, an ETH wallet is needed to conduct transactions and receive payments of any ETH you earn on the platform. Funding your wallet with ETH is the next step to take. You then fund your Forsage account with 0.05 ETH, 0.05 BUSD, or 200 TRX in Tron.
The first levels of Forsage x3 and x4 will be activated, and each matrix costs 0.025 ETH. This actual transaction is what registers you on the platform. You are now in your upline’s matrices, and the reward structure grows following the matrix marketing strategy. Thus, you must have an upline because you will need to provide an upline ID while registering.
The same thing happens when you invite new partners through your link; they take up positions lower in your structure matrix. If you want to make money on the platform, recruiting new downlines is essential. Your income will increase as your downline grows. Additionally, it increases your upline’s profit.
Website Review of Forsage.io
The domain forsage.io was registered on February 9th, 2020. The registrant’s details have been disabled for privacy reasons, therefore it is not accessible. However, the Philippines SEC disclosed Lado Okhotnikov as the developer in an advisory on June 30, 2020.
As of the time of writing, it has registered over 2 million participants with a total turnover of 1 billion USD. If you visit Forsage.io, you’ll probably be thrilled. According to a table on the website that displays the least profits at the top levels, Forsage x3 and x4 yield profits of over 100% ROI. Also, most words on the website are written in Russia raising the possibility that the scheme has Russian roots.
Is Forsage Legit?
Based on how the website and the reward structure are designed, I can’t claim Forsage crypto is a scam outrightly, but I would say, tread with caution. Because Etherscan also recognizes the Philippines SEC warning and warns users to be careful when interacting with the address.
However, according to the following assumptions, Forsage.io might be legit to some extent:
- The platform does not hold participant ETH. Each participant has a personal Ethereum wallet.
- Some users have earned on the platform.
- Whois.com has information about the Forsage website’s registration which will expire in February 2028.
- The ETH Blockchain also contains a history of Forsage transactions.
Now, let’s examine the pros and cons as that will enable you to make the right move.
It has total decentralization
The first fully decentralized marketing system that utilizes smart contracts is called Forsage crypto. Decentralization also brings total transparency because all transactions are open to the public and seen online using a blockchain explorer.
It is protected
The Forsage.io smart-contract code is an algorithm that pays rewards to the participants inside a matrix structure; it does not keep any money in its accounts.
The human factor is nonexistent
Forsage crypto has no administrators. The smart-contract processes every interaction on the blockchain and ensures that it cannot be changed or interrupted by anyone. There are no hidden fees and all transfers are made directly to participants’ wallets.
There are no goods available from Forsage
The system makes money by recruiting new participants and charging members more for higher slots. Who cares if you can’t invite anyone? That implies that the money you invested is lost.
It is a pyramid system
Forsage crypto lacks the consistent flow of funds unless it continues cycling. It resembles a pyramid making Forsage.io a tad bit unstable.
Before being called out by the Philippine SEC, it failed to reveal the platform’s developers. They only provided their email address, firstname.lastname@example.org, as a means of communication. That raises a serious red flag.
How to Earn on Forsage
Recruiting new team members is the first strategy. To earn commissions, you need to find downlines who will fill the roles in your matrix. The second option is to upgrade to higher slots using your earnings. Users start losing money when they choose not to upgrade because new users obtain the profits.
Forsage crypto has been existing since 2020 and there is a great possibility that you may be invited by existing affiliates. Would you still join forsage.io now that you are informed of how it functions? There are no facts about the owner, no means of communication except email, and recruiting or staking more money is the source of income. With all the red flags, are you willing to risk your money or the finances of more people?
Decentralized networking platform based on smart contracts that connect people from all over the world and opens the limitless possibilities of the new economic financial system
Decentralized networking platform based on smart contracts that connect people from all over the world and open the limitless possibilities of the new economic financial system.