In this post I will write about something very interesting, about new crypto program and one big question: SmartWay Forsage review ponzi scam or legit opportunity?
On this blog you can read reviews and see ads about online income opportunities, sites that offer some product: web traffic, hosting, cashback advertising, email autoresponder, landing page – splash builder, funnel, SEO & blogging tools. For the first time I will write about platform that has no product for use outside the platform (at this moment), but it is so special, something never seen before. It is the first full decentralized blockchain matrix program. Why this system is so special you will find in this post. I will not write just in theory, I will show you my own account screenshots and all relevant information. Post will be regularly updated.
Important update, July,1. 2020.
Warning issued by Philippines SEC: Forsage is not registered and dont have the necessary license to issue investment contracts. If you are citizen of the Philippines I strongly recommend: do not create an account, do not buy slots and do not promote Forsage. Maybe in future will be some changes – in that case I will publish a new information. All details you can read on the link HERE.
If you are not citizen of the Philippines I recommend you to check is Forsage registered or not in your country. Law is different from country to country (especially how crypto is regulated), in some countries maybe license is not required (crypto is not considered as currency). For now there is no any warnings from SEC in any other country. I hope that Forsage will solve these problems and become registered company with required license (in countries where license is required). Users cant know all these details, but after official statements like this one everyone should be warned. For now is safe to use Forsage outside of the Philippines.
What is Forsage?
Forsage is the first decentralized matrix program. That means there is no any admin, earning (affiliate commission) goes direct to member, peer to peer system. To ensure this creators are implemented smart contracts into this system. We can say that Forsage is DApp (decentralized application), run on Ethereum blockchain, no one can stop this, application can not be shut down and even dont have any downtime. Everything is coded and can not be changed. This is the future, totally automation, never seen before. You dont need to have worries that admin will change something in system and steal your earning. Earning will go to your wallet instant, you even dont need to click anything on website to get commission, you dont need to visit website, just check your crypto wallet balance. System works without website. Website just showing information from smart contract, which is located on the Ethereum blockchain network.
Is Forsage a new Bitconnect?
No, it is not a new BitConnect. I have seen some comments on social networks that Forsage is a new BitConnect – this simply is not true. Two big differences are: in Bitconnect members invested money with guaranteed Return On Investment – in Forsage this dont exist, and the second: In BitConnect affiliate commission plan was through 11 levels (classic MLM scheme) while in Forsage there is maximal earning through only 2 levels in matrix X4, in matrix X3 only 1 level. In Forsage you can start earn ETH in your first day, even if you dont have your team and never seen before cashouts are automatic, without admin permission through DApp and blockchain technology just like robot doing some things without humans.
What is a smart contract?
Have you ever used a vending machine, an automatic machine that sells different types of food and drinks such as: packaged sandwich, chocolate bars, cold drinks, coffee? Well we can compare smart contract with these machines. Inside machine is a program, software with algorithm which ensure when you choose an option and pay – you will receive for example coffee.
On the same way works smart contract, agreement between two persons or entities in the form of computer code. Rules are predefined and nobody can change it. For example when you buy matrix position in Forsage you will be able get commission instant, by automation when refer someone in X3 matrix. No need to do any additional step. You will see increased amount in ETH inside your crypto wallet. Also you dont need to use email or password, because your Forsage account will be connected via smart contract to your crypto wallet (if you sign smart contract). You just need to allow communication between crypto wallet and Forsage. This is very simple and easy to use, you dont need to have worries that someone will hack your email or to find out your password.
Smart contract is a digital product, someone needs to code, spend time and to have skills for that. Matrix marketing in Forsage is very similar to resell rights – ebook, software for example. You can buy it and then resell it. (get affiliate commission)
Is Forsage a legit business?
To be honest I dont like multi level marketing (MLM) and not familiar with matrix cycler programs. To understand how Forsage works I spent almost 1 week. However I have some experience with MLM programs and know how they works. Short time I was team leader in one MLM program and I was qualified to have benefits from my downline structure through 8 levels. On this way even if you refer just a few members, in your downline structure could be a few hundred members, even more than 1000+ members. For example you refer only 3 members, but one of them refer 500 members – you are qualified to get benefits from those 500 members too – for me very unfair system. This is reason why MLM programs usually are very expensive, they have high monhtly fees and products are very expensive (overpriced products). This is logical because to cover earning in multiple levels system needs to get money somewhere. Because of that I prefer more affiliate programs or programs with MLM component but with limits such as pass up feature (Infinit Traffic Boost for example) or matrix with limited positions. On this way one member (team leader) have limited earning and limited benefits in downline structure.
Forsage is one example why matrix system is more fairly in compare with classic MLM system. Later in post I will describe how it works in details. To be honest all online income opportunities where you need to refer someone are in grey zone. I dont say that is not legit, it depends from country to country (in most countries MLM is legit). Because you are not paid for your work – you are paid for someone else work what is very unfair in my opinion. When system require that you will earn only if you refer someone, always will be some members at the bottom and they will not be able to refer – they will not earn anything ($0). Because of that I use these two 100 % legit ways to earn money online as my primary online income:
- Freelance mini jobs platforms where are you paid for your work described here
- Blogging platform for affiliate marketing helps people to get an organic traffic – real visitors from search engines such as Google, Bing etc. On this way you can promote any program, product or service and increase online income (earn affiliate commissions). I use to promote web tools such as: hosting, email autoresponder, keyword researcher, advertising networks. You can also use it for promote physical products. More information you can read here.
Reasons why I will try to increase online income with Forsage are:
- smart contracts (nobody can shut down this program, system never seen before, even if website domain expire program will still work)
- Low entry fee (one time fee 0.05 ETH – about $12)
- You can find information about creators (recommend to watch an interview with one of them in this section)
- Use blockchain technology – you can view any account by ID
- Concept of crowdfunding (for now there is no any details)
- Spillover – you have chance to earn even if you dont refer anyone (it is possible but not guarantee or promise)
In my opinion this is a legit program but you need to understand some facts and how it works. Yes, you can find some very negative reviews about Forsage but mostly authors of these reviews promote some other programs at the same time. They try to convince you to join in programs they promote. As I mentioned in programs that require to recruit new members always will be unsuccessful people – members at the bottom. How time is going it is harder and harder to get new members. Only difference is: some programs last longer than others but it is hard to know how long. At the end they work on the same way: you earn if you refer someone! On the same way work Forsage with one difference: it is possible to earn even if you dont refer (not guarantee but from my own experience it is a good chance, I received first member in my matrix via spillover from my upline in less than 24 hours).
Without any monthly fee, with just one time entry fee you can find out how smart contract works and have chance to earn significant amount in ETH with this program. I think that is worth 0.05 ETH because there are many much expensive online income opportunities, very often entry fee is a few hundred dollars. I will also explain which methods will help you to refer people and increase income with Forsage. At the end it is up to you if you want to try it or not. I will share my own experience with this program so far with all pros and cons to help so you can make a sensible decision.
Interview with Lado Okhotnikov
How it works?
Forsage is the first decentralized matrix project. Some information you can find out in video above, some information you can find out from my own video below in this section. For start with this program is required to pay entry fee – 0.05 ETH. 0.025 goes to matrix X3 and 0.025 goes to matrix X4.
As you can see from the image X3 matrix have one line with 3 positions, and matrix X4 have two lines: 2 position in the first line, and 4 positions in the second line.
On the image above you can see my progress so far. There are 12 slots in each matrix program. If you think that you are not able to recruit new members and expect earning from spillover (overflow) then you should avoid to buy slots in X3 matrix because there are no spillovers. You can get spillover (overflow from up or bottom) only in matrix X4.
My personal opinion is that everyone should be able to recruit at least a few people, but if not then my advice is dont buy X3 slots. Only buy X4 slots. It is hard to say how much and how fast spillover (overflow) will be and there is not any guarantee. Be careful with buying slots, it is on your own risk. Spend only amount that you can afford to lose. As you can see my expenses so far is about 0.55 ETH. I can afford this amount to lose because I have income from some other crypto long term programs – you can find reviews on this blog (Infinity Traffic Boost, Infinity Mailer Boost, Cryptosurf, Hashing Ad Space).
Matrix X3
When you start and pay entry fee (0.05 ETH) by default you will buy one slot in X3 (the first one). In X3 there are 3 positions and every member that you refer will bring you 0.025 ETH commission, from first two members you will receive instant cashouts to your crypto wallet. Commission from third member will be used for opening a new same slot (you will not be paid to wallet). In this matrix you can earn only if you refer someone! Every next slot have double price and double earning.
Matrix X4
When you pay entry fee by default you will also buy one slot in X4 (the first one). Here we have 2 rows and total 6 positions. For direct referred members that goes in the first row you will not get commissions. These commissions goes to your upline! When those 2 members refer someone (4 positions) you will get paid: 3 commissions goes directly to your wallet, by automatic, you dont need to touch anything and commission from the last one position – referred member will be used for opening a new same slot. Every next slot have double price and earning.
If you want to be qualified for earning in particular slot you need to buy position for that slot. If not you will lose commission which will go to the next available member in team with position in the same slot.
Spillover (overflow)
This is a reason why many members have joined in this program. There is no guarantee that you will earn on this way, without needs to refer new members. But it is a big chance. You need to know that you need to buy slot if you want to be qualified for spillover in same slot. As you can see from previous image I have 2 members in slot number 4. Those 2 members I received from my upline – they are not referred by me. How spillover works I will try to explain you via next image but also I was talking in my personal video tutorial which will be in next section. I received first spillover in less than 24 hours!
In this image you can see that I received members X and Y via spillover from my upline. Those 2 members I was not referred personally and they fill out my first row in X4 matrix. I have not received commission for those 2 members – commission goes to my upline. Now if they are not able to refer new members and I refer 2 new members – those 2 members will go under member X. Member X has received members A and B via spillover from me. If members A and B refer new members – member X will earn commissions even if not able to refer new members. New members referred by members A and B is in my third row, outside of my matrix and I will not earn commission. Those new members referred by A and B are in second row in member X matrix and X will earn commissions.
This is very important, because in pyramid scheme there is no limited positions and team leaders earn commissions for every new member in downline structure. Sometimes this going very deep:8, 10, 12 or even more levels with more than 1000 members in downline structure. That is a pyramid, this matrix is not a pyramid. Here in Forsage members have only 2 rows (2 levels) deep downline structure in matrix (maximum 6 members). On this way nobody can have lots of members in downline structure and program is more fairly.
How to get started with Forsage tutorial
If you decided to try out Forsage in this section I will try to explain you how to do it. For start I recommend you to start with minimal expenses and later you can choose to spend more or not.
Supported wallets are: Metamask and Trust mobile wallet. You can use PC or mobile phone. I use PC and will explain how to create an account. On the Forsage website you have instructions how to do it no matter if you use PC or mobile phone.
STEP 1. Install Metamask wallet from Chrome store. How to do it you can also watch in my video below. It is very simple. You can go to Chrome store via this link or you can download from official Metamask website here. You can also access to Metamask official wbsite via Forsage signup form after you have clicked on the “Automatic registration” button.
If you want be a part of my strong team you can click this link.
Also you can go to official website without referral link and enter my or somebody else ID, recommend to check it.
Official website: https://forsage.io/
My ID is: 306153 (enter this ID if you want to get spillover from me)
Notice: The simplest way to create an account after you have entered referrer ID is to click on the automatic registration button.
STEP 2. After you have downloaded Metamask wallet (Chrome extension) you need to setup wallet. It is very easy, the most important is to write down 12 word phrase and keep it on safe place. Later you will connect your Metamask wallet to Forsage. You dont need an email or password – your Metamask crypto wallet will be used for login.
STEP 3. After you have secured your crypto wallet now is time to send some ETH. I recommend to send 0.07 ETH to be sure to cover fees when you will connect and sign smart contract with Forsage.
STEP 4. You need to wait just a few minutes and your transaction will be confirmed. Now inside wallet window you need to confirm access from Forsage and sign contract and send 0.05 ETH. Just follow instruction from screen and you are done.
If you want to buy another slot just go to chart icon (watch my video) and confirm that you want to buy slot. You need also to confirm transaction in wallet. Every time you want to sign in – click “Sign in” button inside wallet. And that is it: fast and easy.
Notice: every action needs to be confirmed from your wallet!
How to maximize earning with Forsage?
As I already mentioned you can earn via spillovers but not some significant amount and there is no guarantee. The best way is to refer new members. You can use different methods: make your own video and publish on Youtube, post on social networks such as Facebook, Twitter. You can share your referral links in posts and comments but the best way is to make a review just like I did.
You can use different advertising networks, solo ads, cashback advertising sites, traffic exchange sites. But you can also do offline advertising and talk to people about Forsage.
Inside video I was talking how to get spillover (overflow) fast. Here in this section I will repeat:
- join in right team (I will rotate referral links to help my referrals, I have traffic from Google to this blog, I use advertising on some big networks)
- buy slot and take position under your upline in the first row, not in the second row (check my video)
- in general forums are also good places to talk about Forsage
Important: you can earn commissions and spillover in slots that you have bought. If not earning will go to the next available member in team that have this slot activated. Overflow can go from up and down but because I dont have downline structure yet I shared my experience how I received spillover from upline.
Forsage pros and cons
I want to be honest with you, every program have pros and cons.
Forsage pros:
- new system never seen before – fully decentralized program runs on blockchain
- no one can stop this program as long ETH blockchain exist
- creators are not hiding (you can watch an interview with Lado Okhotnikov developer and one of 4 founders in first video)
- passive income without needs to refer – spillover, overflow
- small entry fee: one time fee – 0.05 ETH
- small risk
- many people have chance to find out how smart contract works
- concept of crowdfunding
- automated cashouts
- not require website for cashouts – you dont need to visit website – just check balance in crypto wallet
- huge potential earning $50.000+
- creators dont keep your money, balance on the smart contract address is always 0, you can check here
- Smartway Forsage Dapp review you can check here
Forsage cons:
- negative reviews – fake reviews about Forsage – authors on this way get visitors and promote some other business model, visitors – readers might get confused about Forsage.
- no product or service for use outside of Forsage
- in history similar programs has collapsed very fast (in few months from beginning) and identified as ponzi scheme (websites disappeared)
Final conclusion
In general dont like MLM and matrix (cycler) programs but this is something never seen before and I want to try it and share with others. This post will be regularly updated with all new information about this program but also on this blog you can see some other opportunities to earn crypto in 2020.
You need to know there is always some risk and never spend more than you can afford to lose. In my opinion Forsage is the best program to earn money with crypto in 2020. At the end decision is up to you will you try out Forsage or not. Any potential financial loss or huge earning is your own responsibility.
My progress update and final thought about Forsage at this moment (July, 2. 2020.)
I have joined in Forsage not just to earn some extra ETH, I wanted to find out what is smart contract and how it works. Unfortunately I see some bad things about Forsage: claims about high income in short time period and on the other side claims that Forsage is a ponzi. Big leaders have high income because they already have followers, subscribers, big email lists. An ordinary person maybe dont know how it works, but it is wrong to expect similar income if you are not team leader and dont have audience which will follow you. Because of that I made this review to show what you can expect if you are not a team leader.
As you can see I have only 1 referral and didnt promote much because I wanted to find out is it possible to have income without referrals. That 1 referral bring me $6 and without referrals I earned $92. This is a proof that you can have income without needs to have referrals. And I am in Forsage about 10 days only.
Now big question: Is Forsage a ponzi?
Answer is not simple because creator talking about crowdfunding. There is no more details about projects in near future but I found some information on social networks about: crypto-fiat p2p trade platform, Forsage academy, Forsage TV. Maybe some new information we will find very soon.
For now I suggest to be very careful: check what says law in your country about crowdfunding – is it required to be registered or not, how is crypto regulated, is there any warnings from SEC. I think that Forsage have a good potential and for $12 only you can be a part of this big community, find out how smart contract works and learn how to use marketing methods from team leaders. In my opinion there are 2 big reasons why Forsage should not be considered as ponzi: 1. system is not centralized, creators dont have control over received ETH and they cant steal it and run away and 2. for ponzi is typical that system have guaranteed return, usually on daily basis and in Forsage this is not a case.
Near future will give answer is Forsage a legit or not – what will be with crowdfunding concept, products? Crowdfunding concepts are always on risk – there is no any guarantee what will be at the end.
If you want to have a blog just like me, to be visible on Google, to have real visitors and on this smart way without needs to advertise build downline in any program, earn affiliate commissions for any product or service you promote you should check my section about affiliate marketing and the best platform for blogging HERE.
If you are maybe just a begineer in crypto I suggest to check my posts such as: How to get started with Bitcoin, How to use a hardware wallet, Crypto securrity tips, How to buy LiteCoin or any other crypto (ETH for example) with debit card.
I hope that this post have useful information for you. If I have missed something, did some mistake(s), have any doubts or questions feel free to place a comment.