diff --git a/main.qml b/main.qml
index 74a438fc..168473f9 100644
--- a/main.qml
+++ b/main.qml
@@ -355,8 +355,18 @@ ApplicationWindow {
     function updateBalance() {
         if (!currentWallet)
             return;
-        middlePanel.unlockedBalanceText = leftPanel.unlockedBalanceText =  middlePanel.state === "Receive" ? qsTr("HIDDEN") : walletManager.displayAmount(currentWallet.unlockedBalance(currentWallet.currentSubaddressAccount));
-        middlePanel.balanceText = leftPanel.balanceText = middlePanel.state === "Receive" ? qsTr("HIDDEN") : walletManager.displayAmount(currentWallet.balance(currentWallet.currentSubaddressAccount));
+
+        var balance_unlocked = qsTr("HIDDEN");
+        var balance = qsTr("HIDDEN");
+        if(!persistentSettings.hideBalance){
+            balance_unlocked = walletManager.displayAmount(currentWallet.unlockedBalance(currentWallet.currentSubaddressAccount));
+            balance = walletManager.displayAmount(currentWallet.balance(currentWallet.currentSubaddressAccount));
+        }
+
+        middlePanel.unlockedBalanceText = balance_unlocked;
+        leftPanel.unlockedBalanceText = balance_unlocked;
+        middlePanel.balanceText = balance;
+        leftPanel.balanceText = balance;
     }
 
     function onWalletConnectionStatusChanged(status){
@@ -1028,6 +1038,7 @@ ApplicationWindow {
         property bool keyReuseMitigation2: true
         property int segregationHeight: 0
         property int kdfRounds: 1
+        property bool hideBalance: false
     }
 
     // Information dialog
diff --git a/pages/settings/SettingsLayout.qml b/pages/settings/SettingsLayout.qml
index 4bad9433..974da5e3 100644
--- a/pages/settings/SettingsLayout.qml
+++ b/pages/settings/SettingsLayout.qml
@@ -49,7 +49,7 @@ Rectangle {
         anchors.right: parent.right
         anchors.margins: (isMobile)? 17 : 20
         anchors.topMargin: 0
-        spacing: 0
+        spacing: 6 * scaleRatio
 
         MoneroComponents.CheckBox {
             visible: !isMobile
@@ -59,6 +59,17 @@ Rectangle {
             text: qsTr("Custom decorations") + translationManager.emptyString
         }
 
+        MoneroComponents.CheckBox {
+            visible: !isMobile
+            id: hideBalanceCheckBox
+            checked: persistentSettings.hideBalance
+            onClicked: {
+                persistentSettings.hideBalance = !persistentSettings.hideBalance
+                appWindow.updateBalance();
+            }
+            text: qsTr("Hide balance") + translationManager.emptyString
+        }
+
         MoneroComponents.TextBlock {
             visible: isMobile
             font.pixelSize: 14