DePIN Tax vs Koinly: Which Is Better for Helium & DePIN Mining in 2025?

If you're mining Helium, Hivemapper, DIMO, or other DePIN tokens, you need specialized tax software. Generic crypto tax platforms like Koinly work for traders, but DePIN mining has unique challenges. Here's an honest comparison.

Quick Comparison Table

Why DePIN Mining Needs Specialized Software

1. High Transaction Volume

Helium hotspots can generate 100+ rewards per day. That's 36,500+ transactions annually. Koinly charges based on transaction count:

• Hodler: $179/year (3,000 txns) ❌ Insufficient
• Trader: $279/year (10,000 txns) ⚠️ May work for 1-2 hotspots
• Pro: $999/year (100,000 txns) ⚠️ Needed for 5+ hotspots

DePIN Tax: $69 one-time for unlimited transactions across unlimited hotspots.

2. Mining-Specific Deductions

DePIN mining has unique expenses that traders don't have:

DePIN Tax tracks:

• Hotspot hardware depreciation (Section 179 or 5-year)
• Electricity usage per device
• Internet proportional costs
• Vehicle mileage for site visits
• Mounting equipment, antennas, cables

Koinly: You'd need separate spreadsheets or accounting software to track these. Koinly only handles token transactions.

3. Cost Basis Complexity

When you receive 500 small MOBILE rewards in a day, each has a different cost basis based on exact receipt time.

DePIN Tax: Automatically pulls blockchain data with precise timestamps and USD values.

Koinly: Requires you to export CSV from Helium Explorer and manually format it. Time-consuming and error-prone.

Detailed Feature Comparison

Transaction Import

DePIN Tax:

• Direct wallet connection for Helium, Hivemapper, DIMO
• Automatic daily sync
• Blockchain-verified timestamps and prices

Koinly:

• CSV import from exchanges
• Manual wallet address entry
• May miss on-chain transactions
• Requires regular manual uploads

Expense Tracking

DePIN Tax:

• Upload receipts with photos
• Categorize: electricity, hardware, internet, vehicle
• Auto-calculate depreciation
• Mileage tracker integration (MileIQ sync)
• Generates Schedule C with all expenses

Koinly:

• No expense tracking
• You need separate accounting software
• Must manually combine crypto gains with mining expenses on your tax return

Tax Form Generation

DePIN Tax Generates:

• Schedule C (Business Income & Expenses)
• Form 8949 (Capital Gains Detail)
• Schedule D (Capital Gains Summary)
• Schedule SE (Self-Employment Tax)
• Form 1040 attachments

Koinly Generates:

• Form 8949 (Capital Gains only)
• Tax Loss Harvesting Report
• Does NOT handle mining income or business expenses

Vehicle Deductions

DePIN Tax:

• Track mileage for hotspot site visits
• 2025 IRS rate: 67¢/mile
• Sync with MileIQ app
• Automatic calculation and Schedule C inclusion

Koinly:

• No mileage tracking
• Must use separate app and manually add to tax return

Quarterly Estimates

DePIN Tax:

• Calculates quarterly tax obligations
• Sends reminders before deadlines (Apr 15, Jun 15, Sep 15, Jan 15)
• Generates Form 1040-ES

Koinly:

• No quarterly estimate features
• You'd need to calculate manually or hire a CPA

Pricing Deep Dive

Koinly Pricing (Annual Subscription)

• Free: 10,000 txns (view only, no reports)
• Hodler: $179/year (3,000 txns)
• Trader: $279/year (10,000 txns)
• Pro: $999/year (100,000 txns)

5-Year Cost for 5 Hotspots (assuming Pro plan needed):

• $999 × 5 years = $4,995

DePIN Tax Pricing (One-Time Payment)

• Lifetime: $69 (unlimited everything)

5-Year Cost for 5 Hotspots:

• $69 total

Savings over 5 years: $4,926

When Koinly Might Be Better

Koinly excels if you:

1. Trade frequently on many exchanges (Coinbase, Binance, Kraken, etc.)
2. Don't mine DePIN tokens - Only hold/trade crypto
3. Need international tax reports - Koinly supports multiple countries
4. Have complex DeFi activity - Yield farming, liquidity pools, staking on multiple chains

When DePIN Tax Is Better

DePIN Tax wins if you:

1. Mine Helium, Hivemapper, DIMO, or other DePIN tokens
2. Operate multiple hotspots or devices
3. Want to maximize deductions - Hardware, electricity, mileage
4. File as a business - Need Schedule C
5. Want lifetime access without recurring fees

Real User Scenario

Scenario: 5 Helium Hotspots + Some Trading

Your Activity:

• 5 Helium hotspots generating 50 rewards/day each
• 250 rewards/day × 365 days = 91,250 transactions
• Also trade on Coinbase occasionally (50 trades/year)
• Total: ~91,300 transactions

Option 1: Koinly Pro

• Cost: $999/year (only plan that fits)
• Includes: Capital gains reports
• Missing: Mining expense tracking, mileage, depreciation
• You still need: Separate accounting software ($200/year) or CPA ($500+)
• Total Year 1: $999 + $200 = $1,199

Option 2: DePIN Tax

• Cost: $69 one-time
• Includes: Everything - mining income, expenses, capital gains, mileage, depreciation
• Total Year 1: $69
• Savings: $1,130

5-Year Total:

• Koinly: $5,995
• DePIN Tax: $69
• Savings: $5,926

FAQ: Switching from Koinly

Q: Can I import my Koinly data to DePIN Tax? A: Yes! Export your transaction history from Koinly as CSV and import to DePIN Tax. We'll match existing cost basis.

Q: What if I already paid for Koinly this year? A: Use both! Use DePIN Tax for mining income/expenses, Koinly for trading. Or request a Koinly refund if within their 7-day window.

Q: Does DePIN Tax handle NFTs and DeFi? A: Basic NFT support. For complex DeFi (yield farming across 10+ protocols), Koinly may still be better. But for DePIN mining, we're superior.

Our Recommendation

Use DePIN Tax if:

• DePIN mining is your primary crypto activity
• You want maximum tax deductions
• You prefer one-time payment over subscriptions

Use Koinly if:

• You're a high-volume trader across many exchanges
• You rarely mine, mostly trade
• You need support for 20+ countries

Use Both if:

• You mine AND trade heavily
• Budget allows (though likely unnecessary - DePIN Tax handles basic trading too)

Try DePIN Tax Risk-Free

Not sure? Start with DePIN Tax:

• $69 lifetime access
• 30-day money-back guarantee
• Free migration from Koinly
• Unlimited hotspots and transactions

Get Started: depin.tax - Built by miners, for miners. 🚀