I know this question has been asked many times, but I’m looking for a wallet, where I can send my mining revenues from flypool. I’m using a Trezor too keep my earned Zcash, but for the daily mining transactions I would like to use a different wallet.
There are different wallets, but which one is the best for daily transactions? If possible, I don’t want to use the zcash4win client, because it’s downloading the complete Blockchain. A wallet like jaxx would be perfect.
This is one of the best encyclopedic resources I have found:
Personally, I use the first one (desktop wallet) run on a Linux Ubuntu VM in Windows. This wallet affords you total control over your keys and addresses, but of course ou need to understand what this all means (and perhaps you already do!) before it can benefit you! Additionally, this wallet is a bit more challenging to setup initially, but I think it’s worth it.
As an additional note, I store my ZEC long term in a hardware wallet (Trezor) for a bit of extra redundancy. If you’re not religious about backing up your wallet and keys and your HD dues, your funds go with it. There is some recourse for resync with a hardware wallet that can mitigate this apocalyptic scenario a bit; again, something to consider and research.
Another point to consider: default pool payouts are typically very low. Many people complain about lengthy transaction times with Zcash (hours/days) with a many of the wallets discussed. This is very often due to the fact that they are trying to send large Zcash sums whose total is derived from numerous micro payouts. I highly recommend adjusting your pool payouts to at least 0.1 ZEC (I use 0.5 ZEC personally) in order to avoid this common pitfall.
Jaxx FTW, as long as your not “transforming” your currency your good.
EX: Mine directly to jaxx wallet, transfer to one exchange to sell for btc, transfer to another exchange to sell for monies$$$$. at the end of it all my $107 came out as $97. the highest fee was from exchanging for cash. the lowest fee, was from transferring out of jaxx.
The problem with HolyTransaction is that they don’t have an export function nor do they have an API.
The choice you’ve made to get multiple transfers a day is going to cause you trouble if you’re in the US. Every time you mine, you are subject to short term capital gains on the transaction. So if you have hundreds or thousands of transactions, for each one you must calculate the value of the coin at the time that you mined it, and record that amount times the amount of coin you mined. Then when you file your taxes, you have to submit a list of all of those mining rewards with that information. You will compute your short term capital gains that way. If you also sold the coins, you must also compute the short term capital gains from between the mining price and the sale price, unless you held it for more than a year, in which case you would compute long term capital gains.
I recommend setting the threshold high for reward transfer. I used to do 0.01 but now do 1.0. I get a transfer about once a month. I use an app to check status daily. I mine to Kraken but was about to switch to mine straight to Trezor. Also I’m about to switch to mine ZCL. It’s gone way up in price but not yet the difficulty.