Today’s analytical review is on a new online investment platform – Horsage.
Coupled with the fact that the platform is new, its non-working program makes Horsage very attractive to new investors.
We all love the idea of earning while doing nothing. But is that really the deal?
And it is funny how Horsage sounds like the popular Forsage. Are they any different? Is Horsage safe for you?
Read this post till the end to satisfy your curiosity.
This Horsage review is grouped under the following subheadings:
Enjoy your read!
1. What Is Horsage?
Horsage is a smart contract designed to make commission payments to its participants.
It was launched on the 5th of August, 2020 by Horsage developers (no names were found on the website).
According to the information on its website, Horsage is hosted on the Ethereum Blockchain.
This makes the platform decentralized. A good reason the public is attracted to the platform.
Next, we will look at how Horsage works.
2. How Does Horsage Work?
As you would guess, the first step to using Horsage is to create an account with the platform.
Registration is free but a referral link is required.
Before you can start earning from the platform, you have to make a deposit $15.
Horsage accepts this deposit in USD, BTC or ETH.
It also has a list of wallets from which users can select where their commissions will be sent.
Have a look:
Once you pay $15, you have purchased the three programs on the platform: X3, X2, and X4.
Each program pays users differently. The common deal is that users are paid commissions from their referrals’ deposits.
I explained how users earn from these programs in the next section.
3. Horsage Compensation Plans
As mentioned earlier, there are 3 programs which users participate in to earn from the platform: X3, X2, and X4.
Each program has 15 slots and with a deposit of $15, a user opens the 3 programs simultaneously.
The $15 is used to purchase the first slots in the 3 programs as each costs $5 ($5 is also the reward for that slot).
X3 and X2 are referred to as working programs while X4 is a non-working program.
Let’s see how each program works, shall we?
In this program, users are expected to refer 3 people. Once the 3 referrals deposit their $15, their 1st slots are opened under the user who referred them.
This user is then paid 100% of the deposit made by his 1st and 2nd referrals ($5 + $5 = $10). His 3rd referral’s deposit is paid to his upline.
The payment to the upline opens another matrix for this user to keep earning.
With the $10 he received from his 1st and 2nd referrals, he can then open the 2nd slot.
Now, when his referrals in slot 1 upgrades to slot 2, they automatically become his downlines in slot 2 as well. And so it goes till the last slot.
This example will make it clearer:
John gets referred by Obi to Horsage. John deposits $15 and gains access to the first slots in the three programs.
He then refers Abigail, Edidiong and Frank.
Once these three persons deposit their $15, John will receive $10 from Abigail and Edidiong while Obi will be paid $5 from Frank.
As Obi gets paid, another Matrix is opened for John under Frank. So that from the three people that Frank will refer, John will be paid $5 from the 3rd person.
With his $10, John can upgrade to slot 2 so that when Abigail and Edidiong upgrades to slot 2, they will still be under him and he can earn from their referrals.
If John fails to upgrade and Abigail and Edidiong upgrades before him, Obi will reap the benefits he would have reaped from them.
It appears that John is not making any profit here or, am I seeing wrongly?
Anyway, let’s proceed!
X2 is another working program in the Horsage platform. As a matter of fact, promoters of this platform say that you will earn like magic in this program.
This is how it works:
You invite two persons for a start but you are not paid any commission from their deposit. Rather, your upline is paid the commission.
When your 2 referrals invite 2 persons each (a total of 4 referrals), you are then paid 100% of the deposit of the first three people while the 4th person’s deposit is paid to your upline.
This payment to your upline reopens the matrix for you so that you can earn from the people invited by your 4th referral.
When you get to this point, you would have earned $25 ($15 from your 2nd level downline and $10 from your 3rd level downline).
With $25 you can open more slots in the program so that you will keep receiving commissions as your downlines increase.
This picture will give you a clearer picture of how Horsage X2 works:
This is the most interesting program in this Horsage platform. It is referred to as a non-working program.
Here, the system allocates 4 persons to you. And they are not necessarily people you referred.
You are then paid a 100% commission from the first three people while the commission from the 4th person is paid to your upline.
As you buy more slots in this program, you will earn more commissions.
Sounds cool, huh?
Moving on, we will see whether this platform is legit or not.
4. Is Horsage Legit?
I have different reasons to believe that Horsage is not legit. They are:
i. Hidden Founders
There is no information on the founders of Horsage on its website.
Midway into one of the promotional videos, I saw a man that claimed to be the developer of Horsage but he didn’t say his name.
Then on its Facebook page, I saw the face of the same man with a tag: Horsage Developer, manager and the name – Mr. James Johnson
I didn’t see that name attached to this face anywhere else. It appears the name was added for adding sake.
Also, I found about 2 Facebook pages for this platform. And they do not seem to be owned by Horsage admin.
Looks more like pages opened by users to attract referrals. You can check them out: page 1 and page 2.
Moreover, the support links on the website only take you to the top of the page. Hence, there is no way to reach the admins.
And you know how it is. When you cannot trace the founders, it is not safe.
ii. No Retail Products
Furthermore, this platform has no retail products from which funds can be raised.
This qualifies it as a Ponzi scheme as funds are only generated when new members join the platform.
Also, when users are paid from their referrals’ deposits, they are expected to re-invest else, they will stop earning.
Therefore, when recruitment stops, there will be no funds to pay users and the platform will crash.
And when that happens, investors will lose their money.
iii. No Public Review Yet
I checked Horsage on Trustpilot, and there were no results.
This means that nobody has benefited well enough from the platform to write a public review (LOL).
We can excuse it for that since the platform is new. I did find Horsage on Whois.com.
iv. Lack of Integrity
Again, Horsage claims to be built on the Ethereum blockchain but when I searched for it on etherscan, there was no result.
This contradicts the transparency claim on their website:
I also found a note on one of the Facebook pages that sells off Horsage as a Ponzi scheme by linking it with other untrusted platforms like Crowd1 and Lionshare.
v. I Doubt Users Make Any Profit
Finally, I doubt the feasibility of Horsage earning scheme.
Take the X4 program for example, if the system distributes downlines generously, where do they get them from. What happens to the users who referred them?
In X2, where users earn magically, you cannot earn from your first downline. You will have to wait till they refer four other people before you earn.
Also, you stop earning referral commissions at level 4 (you can confirm from the image in the Horsage X2 section)
In X3, you are expected to use your first commission which is $10 to open slot 2. And if you must keep earning commissions, you must buy more slots.
Considering that every new slot is double the price of the previous one, it is hard to tell whether a user is making any profit at all.
Looks more like the money is just circulating in the system as users buy slots with their commissions.
Then again, I feel like a system that promises to pay users irrespective of the wallet they are using is not planning to make any payment at all.
Or, what do you think?
Putting It All Together
When recruitment drops, Horsage will not have funds to pay users and the platform will crash. This will cause investors to lose their money.
From where I stand, Horsage is not looking like it will be patronized as much as its predecessors.
So, I suggest you ignore those promoters telling you to invest and become one of the top members.
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Let’s call a spade a spade. Horsage is not legit, it’s just another Ponzi scheme ready to swallow as much money as possible from innocent folks.
I’d like to hear your opinion though:
Do you think Horsage is legit?
Would you invest in this platform?
What do you think the future holds for Horsage?
Type your answers in the comments section right now.
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