diff --git a/electrum/commands.py b/electrum/commands.py
index 7d84e45d0..1be0c42e1 100644
--- a/electrum/commands.py
+++ b/electrum/commands.py
@@ -241,7 +241,7 @@ class Commands:
     @command('n')
     async def load_wallet(self, wallet_path=None, password=None):
         """Open wallet in daemon"""
-        wallet = self.daemon.load_wallet(wallet_path, password, manual_upgrades=False)
+        wallet = self.daemon.load_wallet(wallet_path, password, upgrade=True)
         if wallet is not None:
             run_hook('load_wallet', wallet, None)
         response = wallet is not None
diff --git a/electrum/daemon.py b/electrum/daemon.py
index b21ccc128..dc6be9baf 100644
--- a/electrum/daemon.py
+++ b/electrum/daemon.py
@@ -481,13 +481,13 @@ class Daemon(Logger):
         return func_wrapper
 
     @with_wallet_lock
-    def load_wallet(self, path, password, *, manual_upgrades=True) -> Optional[Abstract_Wallet]:
+    def load_wallet(self, path, password, *, upgrade=False) -> Optional[Abstract_Wallet]:
         path = standardize_path(path)
         wallet_key = self._wallet_key_from_path(path)
         # wizard will be launched if we return
         if wallet := self._wallets.get(wallet_key):
             return wallet
-        wallet = self._load_wallet(path, password, manual_upgrades=manual_upgrades, config=self.config)
+        wallet = self._load_wallet(path, password, upgrade=upgrade, config=self.config)
         if wallet is None:
             return
         wallet.start_network(self.network)
@@ -500,7 +500,7 @@ class Daemon(Logger):
             path,
             password,
             *,
-            manual_upgrades: bool = True,
+            upgrade: bool = False,
             config: SimpleConfig,
     ) -> Optional[Abstract_Wallet]:
         path = standardize_path(path)
@@ -513,7 +513,7 @@ class Daemon(Logger):
             storage.decrypt(password)
         # read data, pass it to db
         try:
-            db = WalletDB(storage.read(), storage=storage, manual_upgrades=manual_upgrades)
+            db = WalletDB(storage.read(), storage=storage, upgrade=upgrade)
         except WalletRequiresSplit:
             return
         except WalletRequiresUpgrade:
@@ -654,7 +654,7 @@ class Daemon(Logger):
             #                  hard-to-understand bugs will follow...
             if wallet is None:
                 try:
-                    wallet = self._load_wallet(path, old_password, manual_upgrades=False, config=self.config)
+                    wallet = self._load_wallet(path, old_password, upgrade=True, config=self.config)
                 except util.InvalidPassword:
                     pass
                 except Exception:
diff --git a/electrum/gui/qml/qewalletdb.py b/electrum/gui/qml/qewalletdb.py
index ea5424251..05ff6bb9f 100644
--- a/electrum/gui/qml/qewalletdb.py
+++ b/electrum/gui/qml/qewalletdb.py
@@ -144,7 +144,7 @@ class QEWalletDB(QObject):
             # FIXME hack... load both db and full wallet, just to tell if it has keystore pw.
             #       this also completely ignores db.requires_split(), db.get_action(), etc
             try:
-                db = WalletDB(self._storage.read(), storage=self._storage, manual_upgrades=False)
+                db = WalletDB(self._storage.read(), storage=self._storage, upgrade=True)
             except WalletRequiresSplit as e:
                 raise WalletFileException(_('This wallet requires to be split. This is currently not supported on mobile'))
             wallet = Wallet(db, config=self._config)
@@ -166,7 +166,7 @@ class QEWalletDB(QObject):
         """can raise WalletFileException"""
         # needs storage accessible
         try:
-            self._db = WalletDB(self._storage.read(), storage=self._storage, manual_upgrades=False)
+            self._db = WalletDB(self._storage.read(), storage=self._storage, upgrade=True)
         except WalletRequiresSplit as e:
             self._logger.warning('wallet requires split')
             raise WalletFileException(_('This wallet needs splitting. This is not supported on mobile'))
diff --git a/electrum/gui/qt/__init__.py b/electrum/gui/qt/__init__.py
index f00073cf2..982f389d4 100644
--- a/electrum/gui/qt/__init__.py
+++ b/electrum/gui/qt/__init__.py
@@ -431,7 +431,7 @@ class ElectrumGui(BaseElectrumGui, Logger):
             storage.decrypt(d['password'])
 
         try:
-            db = WalletDB(storage.read(), storage=storage, manual_upgrades=True)
+            db = WalletDB(storage.read(), storage=storage, upgrade=True)
         except WalletRequiresSplit as e:
             try:
                 wizard.run_split(storage, e._split_data)
diff --git a/electrum/lnwatcher.py b/electrum/lnwatcher.py
index d2870998e..ce194b026 100644
--- a/electrum/lnwatcher.py
+++ b/electrum/lnwatcher.py
@@ -325,7 +325,7 @@ class WatchTower(LNWatcher):
     LOGGING_SHORTCUT = 'W'
 
     def __init__(self, network: 'Network'):
-        adb = AddressSynchronizer(WalletDB('', storage=None, manual_upgrades=False), network.config, name=self.diagnostic_name())
+        adb = AddressSynchronizer(WalletDB('', storage=None, upgrade=True), network.config, name=self.diagnostic_name())
         adb.start_network(network)
         LNWatcher.__init__(self, adb, network)
         self.network = network
diff --git a/electrum/tests/test_storage_upgrade.py b/electrum/tests/test_storage_upgrade.py
index 85ec86787..08d51e057 100644
--- a/electrum/tests/test_storage_upgrade.py
+++ b/electrum/tests/test_storage_upgrade.py
@@ -334,24 +334,24 @@ class TestStorageUpgrade(WalletTestCase):
             try:
                 db = self._load_db_from_json_string(
                     wallet_json=wallet_json,
-                    manual_upgrades=True)
+                    upgrade=False)
             except WalletRequiresUpgrade:
                 db = self._load_db_from_json_string(
                     wallet_json=wallet_json,
-                    manual_upgrades=False)
+                    upgrade=True)
                 await self._sanity_check_upgraded_db(db)
             return db
         else:
             try:
                 db = self._load_db_from_json_string(
                     wallet_json=wallet_json,
-                    manual_upgrades=True)
+                    upgrade=False)
             except WalletRequiresSplit as e:
                 split_data = e._split_data
                 self.assertEqual(accounts, len(split_data))
                 for item in split_data:
                     data = json.dumps(item)
-                    new_db = WalletDB(data, storage=None, manual_upgrades=False)
+                    new_db = WalletDB(data, storage=None, upgrade=True)
                     await self._sanity_check_upgraded_db(new_db)
 
     async def _sanity_check_upgraded_db(self, db):
@@ -359,6 +359,6 @@ class TestStorageUpgrade(WalletTestCase):
         await wallet.stop()
 
     @staticmethod
-    def _load_db_from_json_string(*, wallet_json, manual_upgrades):
-        db = WalletDB(wallet_json, storage=None, manual_upgrades=manual_upgrades)
+    def _load_db_from_json_string(*, wallet_json, upgrade):
+        db = WalletDB(wallet_json, storage=None, upgrade=upgrade)
         return db
diff --git a/electrum/tests/test_wallet.py b/electrum/tests/test_wallet.py
index a1bd9b7d7..0fd469e0a 100644
--- a/electrum/tests/test_wallet.py
+++ b/electrum/tests/test_wallet.py
@@ -110,7 +110,7 @@ class FakeWallet:
     def __init__(self, fiat_value):
         super().__init__()
         self.fiat_value = fiat_value
-        self.db = WalletDB('', storage=None, manual_upgrades=True)
+        self.db = WalletDB('', storage=None, upgrade=False)
         self.adb = FakeADB()
         self.db.transactions = self.db.verified_tx = {'abc':'Tx'}
 
@@ -257,7 +257,7 @@ class TestWalletPassword(WalletTestCase):
     async def test_update_password_of_imported_wallet(self):
         wallet_str = '{"addr_history":{"1364Js2VG66BwRdkaoxAaFtdPb1eQgn8Dr":[],"15CyDgLffJsJgQrhcyooFH4gnVDG82pUrA":[],"1Exet2BhHsFxKTwhnfdsBMkPYLGvobxuW6":[]},"addresses":{"change":[],"receiving":["1364Js2VG66BwRdkaoxAaFtdPb1eQgn8Dr","1Exet2BhHsFxKTwhnfdsBMkPYLGvobxuW6","15CyDgLffJsJgQrhcyooFH4gnVDG82pUrA"]},"keystore":{"keypairs":{"0344b1588589958b0bcab03435061539e9bcf54677c104904044e4f8901f4ebdf5":"L2sED74axVXC4H8szBJ4rQJrkfem7UMc6usLCPUoEWxDCFGUaGUM","0389508c13999d08ffae0f434a085f4185922d64765c0bff2f66e36ad7f745cc5f":"L3Gi6EQLvYw8gEEUckmqawkevfj9s8hxoQDFveQJGZHTfyWnbk1U","04575f52b82f159fa649d2a4c353eb7435f30206f0a6cb9674fbd659f45082c37d559ffd19bea9c0d3b7dcc07a7b79f4cffb76026d5d4dff35341efe99056e22d2":"5JyVyXU1LiRXATvRTQvR9Kp8Rx1X84j2x49iGkjSsXipydtByUq"},"type":"imported"},"pruned_txo":{},"seed_version":13,"stored_height":-1,"transactions":{},"tx_fees":{},"txi":{},"txo":{},"use_encryption":false,"verified_tx3":{},"wallet_type":"standard","winpos-qt":[100,100,840,405]}'
         storage = WalletStorage(self.wallet_path)
-        db = WalletDB(wallet_str, storage=storage, manual_upgrades=False)
+        db = WalletDB(wallet_str, storage=storage, upgrade=True)
         wallet = Wallet(db, config=self.config)
 
         wallet.check_password(None)
@@ -273,7 +273,7 @@ class TestWalletPassword(WalletTestCase):
     async def test_update_password_of_standard_wallet(self):
         wallet_str = '''{"addr_history":{"12ECgkzK6gHouKAZ7QiooYBuk1CgJLJxes":[],"12iR43FPb5M7sw4Mcrr5y1nHKepg9EtZP1":[],"13HT1pfWctsSXVFzF76uYuVdQvcAQ2MAgB":[],"13kG9WH9JqS7hyCcVL1ssLdNv4aXocQY9c":[],"14Tf3qiiHJXStSU4KmienAhHfHq7FHpBpz":[],"14gmBxYV97mzYwWdJSJ3MTLbTHVegaKrcA":[],"15FGuHvRssu1r8fCw98vrbpfc3M4xs5FAV":[],"17oJzweA2gn6SDjsKgA9vUD5ocT1sSnr2Z":[],"18hNcSjZzRcRP6J2bfFRxp9UfpMoC4hGTv":[],"18n9PFxBjmKCGhd4PCDEEqYsi2CsnEfn2B":[],"19a98ZfEezDNbCwidVigV5PAJwrR2kw4Jz":[],"19z3j2ELqbg2pR87byCCt3BCyKR7rc3q8G":[],"1A3XSmvLQvePmvm7yctsGkBMX9ZKKXLrVq":[],"1CmhFe2BN1h9jheFpJf4v39XNPj8F9U6d":[],"1DuphhHUayKzbkdvjVjf5dtjn2ACkz4zEs":[],"1E4ygSNJpWL2uPXZHBptmU2LqwZTqb1Ado":[],"1GTDSjkVc9vaaBBBGNVqTANHJBcoT5VW9z":[],"1GWqgpThAuSq3tDg6uCoLQxPXQNnU8jZ52":[],"1GhmpwqSF5cqNgdr9oJMZx8dKxPRo4pYPP":[],"1J5TTUQKhwehEACw6Jjte1E22FVrbeDmpv":[],"1JWySzjzJhsETUUcqVZHuvQLA7pfFfmesb":[],"1KQHxcy3QUHAWMHKUtJjqD9cMKXcY2RTwZ":[],"1KoxZfc2KsgovjGDxwqanbFEA76uxgYH4G":[],"1KqVEPXdpbYvEbwsZcEKkrA4A2jsgj9hYN":[],"1N16yDSYe76c5A3CoVoWAKxHeAUc8Jhf9J":[],"1Pm8JBhzUJDqeQQKrmnop1Frr4phe1jbTt":[]},"addresses":{"change":["1GhmpwqSF5cqNgdr9oJMZx8dKxPRo4pYPP","1GTDSjkVc9vaaBBBGNVqTANHJBcoT5VW9z","15FGuHvRssu1r8fCw98vrbpfc3M4xs5FAV","1A3XSmvLQvePmvm7yctsGkBMX9ZKKXLrVq","19z3j2ELqbg2pR87byCCt3BCyKR7rc3q8G","1JWySzjzJhsETUUcqVZHuvQLA7pfFfmesb"],"receiving":["14gmBxYV97mzYwWdJSJ3MTLbTHVegaKrcA","13HT1pfWctsSXVFzF76uYuVdQvcAQ2MAgB","19a98ZfEezDNbCwidVigV5PAJwrR2kw4Jz","1J5TTUQKhwehEACw6Jjte1E22FVrbeDmpv","1Pm8JBhzUJDqeQQKrmnop1Frr4phe1jbTt","13kG9WH9JqS7hyCcVL1ssLdNv4aXocQY9c","1KQHxcy3QUHAWMHKUtJjqD9cMKXcY2RTwZ","12ECgkzK6gHouKAZ7QiooYBuk1CgJLJxes","12iR43FPb5M7sw4Mcrr5y1nHKepg9EtZP1","14Tf3qiiHJXStSU4KmienAhHfHq7FHpBpz","1KqVEPXdpbYvEbwsZcEKkrA4A2jsgj9hYN","17oJzweA2gn6SDjsKgA9vUD5ocT1sSnr2Z","1E4ygSNJpWL2uPXZHBptmU2LqwZTqb1Ado","18hNcSjZzRcRP6J2bfFRxp9UfpMoC4hGTv","1KoxZfc2KsgovjGDxwqanbFEA76uxgYH4G","18n9PFxBjmKCGhd4PCDEEqYsi2CsnEfn2B","1CmhFe2BN1h9jheFpJf4v39XNPj8F9U6d","1DuphhHUayKzbkdvjVjf5dtjn2ACkz4zEs","1GWqgpThAuSq3tDg6uCoLQxPXQNnU8jZ52","1N16yDSYe76c5A3CoVoWAKxHeAUc8Jhf9J"]},"keystore":{"seed":"cereal wise two govern top pet frog nut rule sketch bundle logic","type":"bip32","xprv":"xprv9s21ZrQH143K29XjRjUs6MnDB9wXjXbJP2kG1fnRk8zjdDYWqVkQYUqaDtgZp5zPSrH5PZQJs8sU25HrUgT1WdgsPU8GbifKurtMYg37d4v","xpub":"xpub661MyMwAqRbcEdcCXm1sTViwjBn28zK9kFfrp4C3JUXiW1sfP34f6HA45B9yr7EH5XGzWuTfMTdqpt9XPrVQVUdgiYb5NW9m8ij1FSZgGBF"},"pruned_txo":{},"seed_type":"standard","seed_version":13,"stored_height":-1,"transactions":{},"tx_fees":{},"txi":{},"txo":{},"use_encryption":false,"verified_tx3":{},"wallet_type":"standard","winpos-qt":[619,310,840,405]}'''
         storage = WalletStorage(self.wallet_path)
-        db = WalletDB(wallet_str, storage=storage, manual_upgrades=False)
+        db = WalletDB(wallet_str, storage=storage, upgrade=True)
         wallet = Wallet(db, config=self.config)
 
         wallet.check_password(None)
@@ -288,14 +288,14 @@ class TestWalletPassword(WalletTestCase):
     async def test_update_password_with_app_restarts(self):
         wallet_str = '{"addr_history":{"1364Js2VG66BwRdkaoxAaFtdPb1eQgn8Dr":[],"15CyDgLffJsJgQrhcyooFH4gnVDG82pUrA":[],"1Exet2BhHsFxKTwhnfdsBMkPYLGvobxuW6":[]},"addresses":{"change":[],"receiving":["1364Js2VG66BwRdkaoxAaFtdPb1eQgn8Dr","1Exet2BhHsFxKTwhnfdsBMkPYLGvobxuW6","15CyDgLffJsJgQrhcyooFH4gnVDG82pUrA"]},"keystore":{"keypairs":{"0344b1588589958b0bcab03435061539e9bcf54677c104904044e4f8901f4ebdf5":"L2sED74axVXC4H8szBJ4rQJrkfem7UMc6usLCPUoEWxDCFGUaGUM","0389508c13999d08ffae0f434a085f4185922d64765c0bff2f66e36ad7f745cc5f":"L3Gi6EQLvYw8gEEUckmqawkevfj9s8hxoQDFveQJGZHTfyWnbk1U","04575f52b82f159fa649d2a4c353eb7435f30206f0a6cb9674fbd659f45082c37d559ffd19bea9c0d3b7dcc07a7b79f4cffb76026d5d4dff35341efe99056e22d2":"5JyVyXU1LiRXATvRTQvR9Kp8Rx1X84j2x49iGkjSsXipydtByUq"},"type":"imported"},"pruned_txo":{},"seed_version":13,"stored_height":-1,"transactions":{},"tx_fees":{},"txi":{},"txo":{},"use_encryption":false,"verified_tx3":{},"wallet_type":"standard","winpos-qt":[100,100,840,405]}'
         storage = WalletStorage(self.wallet_path)
-        db = WalletDB(wallet_str, storage=storage, manual_upgrades=False)
+        db = WalletDB(wallet_str, storage=storage, upgrade=True)
         wallet = Wallet(db, config=self.config)
         await wallet.stop()
 
         storage = WalletStorage(self.wallet_path)
         # if storage.is_encrypted():
         #     storage.decrypt(password)
-        db = WalletDB(storage.read(), storage=storage, manual_upgrades=False)
+        db = WalletDB(storage.read(), storage=storage, upgrade=True)
         wallet = Wallet(db, config=self.config)
 
         wallet.check_password(None)
diff --git a/electrum/tests/test_wallet_vertical.py b/electrum/tests/test_wallet_vertical.py
index e2b18f4fe..0a91d8186 100644
--- a/electrum/tests/test_wallet_vertical.py
+++ b/electrum/tests/test_wallet_vertical.py
@@ -51,7 +51,7 @@ class WalletIntegrityHelper:
 
     @classmethod
     def create_standard_wallet(cls, ks, *, config: SimpleConfig, gap_limit=None):
-        db = storage.WalletDB('', storage=None, manual_upgrades=False)
+        db = storage.WalletDB('', storage=None, upgrade=True)
         db.put('keystore', ks.dump())
         db.put('gap_limit', gap_limit or cls.gap_limit)
         w = Standard_Wallet(db, config=config)
@@ -60,7 +60,7 @@ class WalletIntegrityHelper:
 
     @classmethod
     def create_imported_wallet(cls, *, config: SimpleConfig, privkeys: bool):
-        db = storage.WalletDB('', storage=None, manual_upgrades=False)
+        db = storage.WalletDB('', storage=None, upgrade=True)
         if privkeys:
             k = keystore.Imported_KeyStore({})
             db.put('keystore', k.dump())
@@ -71,7 +71,7 @@ class WalletIntegrityHelper:
     def create_multisig_wallet(cls, keystores: Sequence, multisig_type: str, *,
                                config: SimpleConfig, gap_limit=None):
         """Creates a multisig wallet."""
-        db = storage.WalletDB('', storage=None, manual_upgrades=True)
+        db = storage.WalletDB('', storage=None, upgrade=False)
         for i, ks in enumerate(keystores):
             cosigner_index = i + 1
             db.put('x%d/' % cosigner_index, ks.dump())
diff --git a/electrum/wallet.py b/electrum/wallet.py
index bb38cbe53..2dfc68cc3 100644
--- a/electrum/wallet.py
+++ b/electrum/wallet.py
@@ -408,7 +408,7 @@ class Abstract_Wallet(ABC, Logger, EventListener):
         new_storage._encryption_version = self.storage._encryption_version
         new_storage.pubkey = self.storage.pubkey
 
-        new_db = WalletDB(self.db.dump(), storage=new_storage, manual_upgrades=False)
+        new_db = WalletDB(self.db.dump(), storage=new_storage, upgrade=True)
         if self.lnworker:
             channel_backups = new_db.get_dict('imported_channel_backups')
             for chan_id, chan in self.lnworker.channels.items():
@@ -3709,7 +3709,7 @@ def create_new_wallet(*, path, config: SimpleConfig, passphrase=None, password=N
     storage = WalletStorage(path)
     if storage.file_exists():
         raise Exception("Remove the existing wallet first!")
-    db = WalletDB('', storage=storage, manual_upgrades=False)
+    db = WalletDB('', storage=storage, upgrade=True)
 
     seed = Mnemonic('en').make_seed(seed_type=seed_type)
     k = keystore.from_seed(seed, passphrase)
@@ -3748,7 +3748,7 @@ def restore_wallet_from_text(
             raise Exception("Remove the existing wallet first!")
     if encrypt_file is None:
         encrypt_file = True
-    db = WalletDB('', storage=storage, manual_upgrades=False)
+    db = WalletDB('', storage=storage, upgrade=True)
     text = text.strip()
     if keystore.is_address_list(text):
         wallet = Imported_Wallet(db, config=config)
diff --git a/electrum/wallet_db.py b/electrum/wallet_db.py
index 2d26df963..d5c49102a 100644
--- a/electrum/wallet_db.py
+++ b/electrum/wallet_db.py
@@ -1164,8 +1164,8 @@ class WalletDBUpgrader(Logger):
 
 class WalletDB(JsonDB):
 
-    def __init__(self, s, *, storage=None, manual_upgrades=True):
-        self._upgrade = not manual_upgrades
+    def __init__(self, s, *, storage=None, upgrade=False):
+        self._upgrade = upgrade
         JsonDB.__init__(self, s, storage, encoder=MyEncoder)
         # create pointers
         self.load_transactions()
@@ -1634,7 +1634,7 @@ class WalletDB(JsonDB):
         for data in split_data:
             path = root_path + '.' + data['suffix']
             item_storage = WalletStorage(path)
-            db = WalletDB(json.dumps(data), storage=item_storage, manual_upgrades=False)
+            db = WalletDB(json.dumps(data), storage=item_storage, upgrades=True)
             db.write()
             file_list.append(path)
         return file_list
diff --git a/electrum/wizard.py b/electrum/wizard.py
index 300a1641f..9c54776c6 100644
--- a/electrum/wizard.py
+++ b/electrum/wizard.py
@@ -587,7 +587,7 @@ class NewWalletWizard(AbstractWizard):
                 enc_version = StorageEncryptionVersion.XPUB_PASSWORD
             storage.set_password(data['password'], enc_version=enc_version)
 
-        db = WalletDB('', storage=storage, manual_upgrades=False)
+        db = WalletDB('', storage=storage, upgrade=True)
         db.set_keystore_encryption(bool(data['password']) and data['encrypt'])
 
         db.put('wallet_type', data['wallet_type'])
diff --git a/run_electrum b/run_electrum
index 274593631..f1b612c55 100755
--- a/run_electrum
+++ b/run_electrum
@@ -227,7 +227,7 @@ async def run_offline_command(config, config_options, plugins: 'Plugins'):
                 password = get_password_for_hw_device_encrypted_storage(plugins)
                 config_options['password'] = password
             storage.decrypt(password)
-        db = WalletDB(storage.read(), storage=storage, manual_upgrades=False)
+        db = WalletDB(storage.read(), storage=storage, upgrade=True)
         wallet = Wallet(db, config=config)
         config_options['wallet'] = wallet
     else: