Forsage Review Scam Summary
Forsage is just another an Ethereum based cash gifting pyramid scheme. It is a matrix cycler program. There is nothing special or innovative about Forsage.
Are you looking for an updated Forsage review? Is Forsage a scam? Is Forsage legit? Have you seen someone promoting this as a way to earn Ethereum with smart contracts on Facebook or YouTube as the first ever 100% decentralized matrix cryptocurrency project? I’ll review the true details of Forsage.io including the products, the company, and the compensation plan in this Forsage review.
What is Forsage?
Forsage is just another Ethereum based cash gifting pyramid scheme that launched in February 2020. It is a matrix cycler program. There is nothing special or innovative about Forsage. They simply use a smart contract on the Ethereum blockchain, or so they claim, to automate the position cycling in the matrices, to pay members wallets. So, instead of a web based matrix script, its on the blockchain,….big deal!
These smart contract crypto based matrix cycler ponzi scams, aka pyramid schemes, are very popular lately and are popping up like crazy.
There’s a new ETH based gifting scam launching every week now, it seems.
Matrix cycler’s never last, once recruiting slows down, people stop getting paid. Most people can not recruit anyways so they will lose their money. The admins, the people at the top get paid the most, and the people at the bottom get suckered in these scams and lose out.
Forsage uses Ethereum as the only method of peer to peer payments, so no recourse/refunds once you send your ETH away to join this ponzi scam.
There is no information listed on the site about the CEO or owners. The domain was Forsage.io was privately registered on February 6, 2020 and expires on February 9, 2023.
From the Forsage.io website they self describe as:
The First Ever 100% decentralized international crowdfunding – The new generation platform
Revolutionary Smart Contract* technology provides decentralized market participants with the ability to directly engage in personal and business transactions. The Forsage Decentralized Matrix Project’s Smart Contract is publicly and perpetually available to view on the Ethereum Blockchain.
Here is Forsage’s hypey claims from their marketing:
- Zero risk factors
- Instant peer-to-peer payments
- Transparency and Anonymity (…What?)
- Non hierarchically organized
- Transactional surety
- Smart contract
- Blah Blah Blah
Sounds impressive huh?? It’s not really, under the hood, Forsage is a pyramid scheme.
Typical commission junkies, crypto ponzi pimps and scammers like Vitaliy Dubinin, Justin Verrengia and Ankur Agarwal are promoting this to their gullible followers on social media and their lists to make easy commissions paid in Ethereum form the uneducated.
How Does Forsage Work?
To use Forsage, you will need the Metamask wallet at Metamask.io for desktop, or TrustWallet app for mobile.
First you will fund your wallet with Ethereum.
Next, once logged in Forsage.io, you can purchase your first position in the x3 matrix with a minimum of 0.05 ETH, it will connect to your Metamask wallet or TrustWallet directly, then you will authorize the transaction and connect to the Forsage “smart contract”. Then you can send and receive Etherium payments with Forsage.
Make sure to save your recovery seed phrases, if you’re setting up these wallets for the first time.
Forsage has no products at all.
This is more proof that this is just simply a money game, in other words, it’s an Ethereum based gifting pyramid scheme Disguised as “Crowdfunding”.
Pay Ethereum to join for the ability to refer other suckers, 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 (51.2 ETH = $6550 usd).
How Much Does Forsage Cost To Join?
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 $228 usd, that is $23,335 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 $228 usd, that is $23,335 usd.
Forsage is nothing more than an illegal gifting matrix cycler pyramid scheme that uses the Ethereum cryptocurrency as payment method.
Just because it’s on the blockchain, does not mean it is not a scam.
It’s marketed as a scam proof way to earn ETH daily with fancy terms like: new generation, crowdfunding, decentralized, smart contract, but don’t be fooled by this scam. You will have to constantly recruit new suckers and it needs a steady stream of new money to keep cycling or else it will stall out, not complete their cycles and stop paying.
Its simple math that it will eventually stop paying.
Most of the money will be made at the top of the pyramid, from the owners, the owners friends and the big recruiters that are experienced in promoting these lame ponzi scams to gain large amounts of Ethereum. Meanwhile, the people at the bottom and most people who join will be left holding the empty bag and receive little to no payout and lose their money.
Don’t be gullible, save your Ethereum, and do not join this Forsage scam.