diff --git a/src/status_im/contexts/wallet/common/sheets/network_preferences/view.cljs b/src/status_im/contexts/wallet/common/sheets/network_preferences/view.cljs
index 4cc47f72e2..064aa1afe3 100644
--- a/src/status_im/contexts/wallet/common/sheets/network_preferences/view.cljs
+++ b/src/status_im/contexts/wallet/common/sheets/network_preferences/view.cljs
@@ -28,7 +28,7 @@
                   :on-change           on-change}})
 
 (defn- view-internal
-  [{:keys [selected-networks]}]
+  [{:keys [selected-networks watch-only?]}]
   (let [state                               (reagent/atom :default)
         {:keys [color address
                 network-preferences-names]} (rf/sub [:wallet/current-viewing-account])
@@ -63,7 +63,9 @@
              :blur-radius 25}])
          [quo/drawer-top
           {:title       (i18n/label :t/network-preferences)
-           :description (i18n/label :t/network-preferences-desc)
+           :description (if watch-only?
+                          (i18n/label :t/network-preferences-desc-1)
+                          (i18n/label :t/network-preferences-desc-2))
            :blur?       blur?}]
          [quo/data-item
           {:status          :default
diff --git a/src/status_im/contexts/wallet/edit_account/view.cljs b/src/status_im/contexts/wallet/edit_account/view.cljs
index 397506eb44..10d0e1e6fa 100644
--- a/src/status_im/contexts/wallet/edit_account/view.cljs
+++ b/src/status_im/contexts/wallet/edit_account/view.cljs
@@ -49,11 +49,12 @@
                                               :updated-key :name
                                               :new-value   @edited-account-name}))]
     (fn []
-      (let [{:keys [name emoji address color] :as account} (rf/sub [:wallet/current-viewing-account])
-            network-details                                (rf/sub [:wallet/network-preference-details])
-            account-name                                   (or @edited-account-name name)
-            button-disabled?                               (or (nil? @edited-account-name)
-                                                               (= name @edited-account-name))]
+      (let [{:keys [name emoji address color watch-only?]
+             :as   account}  (rf/sub [:wallet/current-viewing-account])
+            network-details  (rf/sub [:wallet/network-preference-details])
+            account-name     (or @edited-account-name name)
+            button-disabled? (or (nil? @edited-account-name)
+                                 (= name @edited-account-name))]
         [create-or-edit-account/view
          {:page-nav-right-side [{:icon-name :i/delete
                                  :on-press  #(js/alert "Delete account: to be implemented")}]
@@ -90,10 +91,11 @@
                                             {:content
                                              (fn []
                                                [network-preferences/view
-                                                {:on-save (fn [chain-ids]
-                                                            (rf/dispatch [:hide-bottom-sheet])
-                                                            (save-account
-                                                             {:account     account
-                                                              :updated-key :prod-preferred-chain-ids
-                                                              :new-value   chain-ids}))}])}]))
+                                                {:on-save     (fn [chain-ids]
+                                                                (rf/dispatch [:hide-bottom-sheet])
+                                                                (save-account
+                                                                 {:account     account
+                                                                  :updated-key :prod-preferred-chain-ids
+                                                                  :new-value   chain-ids}))
+                                                 :watch-only? watch-only?}])}]))
            :container-style style/data-item}]]))))
diff --git a/translations/en.json b/translations/en.json
index a0e77acd49..2bca9c7618 100644
--- a/translations/en.json
+++ b/translations/en.json
@@ -2378,7 +2378,8 @@
     "account-info": "Account info",
     "account-name-input-placeholder": "Account name",
     "network-preferences": "Network preferences",
-    "network-preferences-desc": "Select which networks to receive funds on",
+    "network-preferences-desc-1": "Select which networks this address is happy to receive funds on",
+    "network-preferences-desc-2": "Select which networks to receive funds on",
     "layer-2": "Layer 2",
     "manage-tokens": "Manage tokens",
     "edit-derivation-path": "Edit derivation path",