Before you dive in and invest your hard-earned money in Forsage BUSD, you owe it to yourself to do your due diligence.
This review will give you the scoop on Forsage BUSD – what it is, how it works, the potential risks and rewards, and whether it’s worth your time and money.
By the end, you’ll have a clear sense of whether Forsage BUSD is real or fake and be able to decide whether it’s right for you.
The crypto world is filled with hype and empty promises, so we’re cutting through all that to give you the facts you really need.
What Is Forsage BUSD: A Quick Overview
So, what exactly is Forsage BUSD? The “BUSD” stands for Binance USD. It is a platform where you can earn Binance USD (digital money) through referrals.
You pay a one-time registration fee of 0.05 BUSD to join the Forsage BUSD smart contract.
Then you can invite other people to join, and you’ll earn 5% of their registration fees.
The people you invite can also invite others to join, and you’ll earn commissions from them, too (and so on).
To get started, you must sign up on the Forsage BUSD website. Once registered, you have three ways to make money X3, X4, and xXx.
Each package requires a certain registration fee to participate.
1. X3 Package
In the X3 package, which focuses on referrals, you can earn at least 15 BUSD with a registration fee of 5 BUSD. Completing 12 cycles can earn you up to 59,779 BUSD.
2. X4 Package
The X4 package involves team matrices and allows you to earn through referrals, spillover, and overflows.
With a registration fee of 5 BUSD, you can earn a minimum of 20 BUSD. Completing 12 cycles can earn you up to 79,700 BUSD.
3. xXx Package
The xXx package is for team building and offers worldwide earning opportunities.
With an 8 BUSD registration fee, you can earn a minimum of 54.4 BUSD. Completing 12 cycles can earn you up to 147,328.8 BUSD.
Registering for all three packages with a total fee of 18 BUSD, you can earn 89.4 BUSD.
While completing 12 cycles across all packages can earn you up to 286,803.8 BUSD.
How Does Forsage BUSD Work?
Forsage BUSD uses smart contract technology, like a digital agreement, to ensure everything is fair.
The platform is decentralized, which means there is no one person or company in charge. This gives users more control over their earnings.
By joining matrix programs and referring others to the platform, users can earn BUSD cryptocurrency.
It’s a way to make money without doing a lot of work. The platform operates on the Ethereum blockchain.
Register for Forsage BUSD using Trust Wallet, Token Pocket, or Metamask. It is like your bank account for cryptocurrency and is separate from Forsage.
After registering on Forsage, you can log in using the wallet app you registered with.
All the money you earn will go directly into your wallet, which you can exchange, sell, or swap for coins like Bitcoin.
Is Forsage BUSD Legit or a Scam?
So, is Forsage BUSD legit or just another crypto scam? Yes, it is a scam.
e passive income through a cycling gifting system. However, it resembles an illegal pyramid scheme.
Let’s look at the facts.
The Good
Forsage BUSD is built on the Binance Smart Chain, a popular and reputable blockchain. This gives it some credibility.
You can earn daily profits through the cycling gifting system. Some members report making money through Forsage BUSD.
It’s a decentralized platform with no central authority. Your funds are stored in your crypto wallet.
The Bad
Forsage BUSD has a suspiciously pyramid-like structure. New members gift money to older members, who then gift to even older members. This is unsustainable.
There are no real products or services. The only way to make money is by recruiting new members. This is a major red flag.
Also, it’s unregistered security. Forsage BUSD should be registered with the SEC but is not. This is illegal in the US and many other countries.
The Verdict
While Forsage BUSD seems like an easy way to earn passive income in crypto, the pyramid structure is off-putting.
In fact, the founders of Forsage have been charged with running a Ponzi and pyramid scheme.
They allegedly promoted Forsage as a legitimate business opportunity but operated it as a fraudulent scheme, raising around $340 million from victims worldwide.
Over 80% of investors received less than they invested, and many didn’t receive any payouts. The investors will face a maximum penalty of 20 years in prison if convicted.
So, it’s best to stay clear about investing in this platform until the investors have been cleared of their alleged crimes.
FAQ
What Happened With Forsage?
The U.S. Justice Department accused the founders of Forsage of running a $340 million Ponzi scheme disguised as a decentralized finance (DeFi) investing platform.
The company used smart contracts that seem consistent with a Ponzi scheme.
Is Forsage Shut Down?
Since its indictment, there have been warning for people to stop using the platform.
Also, the Securities and Exchange Commission (SEC) has ordered the closure of Forsage and Forsage Philippines due to their involvement in illegal investment solicitation activities.
Should I Invest in Forsage?
It is strongly advised to refrain from investing in the Forsage Platform. The platform’s claims of legitimacy are false until cleared of all charges its best to be wary.
Who Owns Forsage?
Forsage is owned by Vladimir Okhotnikov, Olena Oblamska, Mikhail Sergeev, Gleb Million, and Sergey Maslakov, all Russian nationals.
Can I Get My Money Back From Forsage?
All individuals who are victims of the Forsage scheme should visit the website www.justice.gov/criminal-vns/case/united-states-v-vladimir-okhotnikov-et-al.
There, they can identify themselves as potential victims and gather more information about their rights, including the option to submit a victim impact statement.
Conclusion
While Forsage BUSD shows some promise with the ability to earn passive income through their smart contract, there has been much dissatisfaction with their system.
This has led to a court indictment on the founders for running a wire crime, with all investors advised to identify themselves.
The crypto space has many shiny new opportunities like this that are too good to be true.
