Latest Blog Posts

How do I find my mining addresses?

You are here:
< All Topics
Table of Contents

There are two main ways to mine cryptocurrency – Solo Mining and Pool Mining.

If you’re Solo Mining, that means your computer is creating and validating entire blocks by it self in which case you are awarded the whole block reward for any blocks you validate that make it into the main blockchain.

Pool mining on the other hand is where your computer is working together with other computers to validate blocks and instead of getting the block reward you are awarded a payout from the mining pool in proportion to the work you put in and the number of coins you all mined together.

In either case these two types of transactions look different on the blockchain so we need to know which one of these types of mining you’re doing so we can figure out how many mining rewards you’ve earned.

Solo Mining

For Solo Mining, the address we need is the address that is receiving the block reward on the blocks your computer is mining.

NavCoin

All you need to do is look up your address on NavExplorer. If you’re cold staking you use either your hot or cold address. If you’re not totally sure, you can click on any block you’ve staked from the list and it should show an address in the “Staked By” row on the block details. For example;

In this case, the address you would enter into Taxoshi is “NiJyHqhQQx5zeozU23gkXgy5gBgcvF13LE” and it is directly earning the block reward, so you would select “Solo Mining” when you’re going through the calculation wizard.

Pool Mining

For pool mining the address we need is your payout address from the mining pool (e.g. NavPool). Ideally you should keep all incoming transactions to this address seperate from your other activities as the calculator will consider all incoming transactions to this address as pool mining payments.

In the future we are looking to add filtering mechanisms or selection queries so you can refine which transactions are selected as mining payments but for the moment it’s better just to keep them seperate if you can.

Other Resources


Questions & Answers

Inland Revenue has released a Questions & Answers article covering their position on cryptocurrency and tax


Read More

Employee Schemes

Inland Revenue is extending its guidance on cryptocurrencies to cover their use in employee share schemes


Read More

Industry Opinion

Scott Mason from Findex unpacks the Inland Revenue guidance on cryptocurrency taxation


Read More

Taxoshi is a New Zealand startup with the vision of bringing deeper compliance to the blockchain ecosystem globally. Join us on the journey.