diff --git a/src/init.cpp b/src/init.cpp
index 6973574cf..ba9860014 100644
--- a/src/init.cpp
+++ b/src/init.cpp
@@ -1424,149 +1424,19 @@ bool AppInit2(boost::thread_group& threadGroup, CScheduler& scheduler)
         pwalletMain = NULL;
         LogPrintf("Wallet disabled!\n");
     } else {
-
-        // needed to restore wallet transaction meta data after -zapwallettxes
-        std::vector<CWalletTx> vWtx;
-
-        if (GetBoolArg("-zapwallettxes", false)) {
-            uiInterface.InitMessage(_("Zapping all transactions from wallet..."));
-
-            pwalletMain = new CWallet(strWalletFile);
-            DBErrors nZapWalletRet = pwalletMain->ZapWalletTx(vWtx);
-            if (nZapWalletRet != DB_LOAD_OK) {
-                uiInterface.InitMessage(_("Error loading wallet.dat: Wallet corrupted"));
-                return false;
-            }
-
-            delete pwalletMain;
-            pwalletMain = NULL;
-        }
-
-        uiInterface.InitMessage(_("Loading wallet..."));
-
-        nStart = GetTimeMillis();
-        bool fFirstRun = true;
-        pwalletMain = new CWallet(strWalletFile);
-        DBErrors nLoadWalletRet = pwalletMain->LoadWallet(fFirstRun);
-        if (nLoadWalletRet != DB_LOAD_OK)
-        {
-            if (nLoadWalletRet == DB_CORRUPT)
-                strErrors << _("Error loading wallet.dat: Wallet corrupted") << "\n";
-            else if (nLoadWalletRet == DB_NONCRITICAL_ERROR)
-            {
-                InitWarning(_("Error reading wallet.dat! All keys read correctly, but transaction data"
-                             " or address book entries might be missing or incorrect."));
-            }
-            else if (nLoadWalletRet == DB_TOO_NEW)
-                strErrors << strprintf(_("Error loading wallet.dat: Wallet requires newer version of %s"), _(PACKAGE_NAME)) << "\n";
-            else if (nLoadWalletRet == DB_NEED_REWRITE)
-            {
-                strErrors << strprintf(_("Wallet needed to be rewritten: restart %s to complete"), _(PACKAGE_NAME)) << "\n";
-                LogPrintf("%s", strErrors.str());
-                return InitError(strErrors.str());
-            }
-            else
-                strErrors << _("Error loading wallet.dat") << "\n";
-        }
-
-        if (GetBoolArg("-upgradewallet", fFirstRun))
-        {
-            int nMaxVersion = GetArg("-upgradewallet", 0);
-            if (nMaxVersion == 0) // the -upgradewallet without argument case
-            {
-                LogPrintf("Performing wallet upgrade to %i\n", FEATURE_LATEST);
-                nMaxVersion = CLIENT_VERSION;
-                pwalletMain->SetMinVersion(FEATURE_LATEST); // permanently upgrade the wallet immediately
-            }
-            else
-                LogPrintf("Allowing wallet upgrade up to %i\n", nMaxVersion);
-            if (nMaxVersion < pwalletMain->GetVersion())
-                strErrors << _("Cannot downgrade wallet") << "\n";
-            pwalletMain->SetMaxVersion(nMaxVersion);
-        }
-
-        if (fFirstRun)
-        {
-            // Create new keyUser and set as default key
-            RandAddSeedPerfmon();
-
-            CPubKey newDefaultKey;
-            if (pwalletMain->GetKeyFromPool(newDefaultKey)) {
-                pwalletMain->SetDefaultKey(newDefaultKey);
-                if (!pwalletMain->SetAddressBook(pwalletMain->vchDefaultKey.GetID(), "", "receive"))
-                    strErrors << _("Cannot write default address") << "\n";
-            }
-
-            pwalletMain->SetBestChain(chainActive.GetLocator());
-        }
-
-        LogPrintf("%s", strErrors.str());
-        LogPrintf(" wallet      %15dms\n", GetTimeMillis() - nStart);
-
-        RegisterValidationInterface(pwalletMain);
-
-        CBlockIndex *pindexRescan = chainActive.Tip();
-        if (GetBoolArg("-rescan", false))
-            pindexRescan = chainActive.Genesis();
-        else
-        {
-            CWalletDB walletdb(strWalletFile);
-            CBlockLocator locator;
-            if (walletdb.ReadBestBlock(locator))
-                pindexRescan = FindForkInGlobalIndex(chainActive, locator);
-            else
-                pindexRescan = chainActive.Genesis();
-        }
-        if (chainActive.Tip() && chainActive.Tip() != pindexRescan)
+        std::string warningString;
+        std::string errorString;
+        pwalletMain = CWallet::InitLoadWallet(fDisableWallet, strWalletFile, warningString, errorString);
+        if (!warningString.empty())
+            InitWarning(warningString);
+        if (!errorString.empty())
         {
-            //We can't rescan beyond non-pruned blocks, stop and throw an error
-            //this might happen if a user uses a old wallet within a pruned node
-            // or if he ran -disablewallet for a longer time, then decided to re-enable
-            if (fPruneMode)
-            {
-                CBlockIndex *block = chainActive.Tip();
-                while (block && block->pprev && (block->pprev->nStatus & BLOCK_HAVE_DATA) && block->pprev->nTx > 0 && pindexRescan != block)
-                    block = block->pprev;
-
-                if (pindexRescan != block)
-                    return InitError(_("Prune: last wallet synchronisation goes beyond pruned data. You need to -reindex (download the whole blockchain again in case of pruned node)"));
-            }
-
-            uiInterface.InitMessage(_("Rescanning..."));
-            LogPrintf("Rescanning last %i blocks (from block %i)...\n", chainActive.Height() - pindexRescan->nHeight, pindexRescan->nHeight);
-            nStart = GetTimeMillis();
-            pwalletMain->ScanForWalletTransactions(pindexRescan, true);
-            LogPrintf(" rescan      %15dms\n", GetTimeMillis() - nStart);
-            pwalletMain->SetBestChain(chainActive.GetLocator());
-            nWalletDBUpdated++;
-
-            // Restore wallet transaction metadata after -zapwallettxes=1
-            if (GetBoolArg("-zapwallettxes", false) && GetArg("-zapwallettxes", "1") != "2")
-            {
-                CWalletDB walletdb(strWalletFile);
-
-                BOOST_FOREACH(const CWalletTx& wtxOld, vWtx)
-                {
-                    uint256 hash = wtxOld.GetHash();
-                    std::map<uint256, CWalletTx>::iterator mi = pwalletMain->mapWallet.find(hash);
-                    if (mi != pwalletMain->mapWallet.end())
-                    {
-                        const CWalletTx* copyFrom = &wtxOld;
-                        CWalletTx* copyTo = &mi->second;
-                        copyTo->mapValue = copyFrom->mapValue;
-                        copyTo->vOrderForm = copyFrom->vOrderForm;
-                        copyTo->nTimeReceived = copyFrom->nTimeReceived;
-                        copyTo->nTimeSmart = copyFrom->nTimeSmart;
-                        copyTo->fFromMe = copyFrom->fFromMe;
-                        copyTo->strFromAccount = copyFrom->strFromAccount;
-                        copyTo->nOrderPos = copyFrom->nOrderPos;
-                        copyTo->WriteToDisk(&walletdb);
-                    }
-                }
-            }
+            LogPrintf("%s", errorString);
+            return InitError(errorString);
         }
-        pwalletMain->SetBroadcastTransactions(GetBoolArg("-walletbroadcast", DEFAULT_WALLETBROADCAST));
-    } // (!fDisableWallet)
+        if (!pwalletMain)
+            return false;
+    }
 #else // ENABLE_WALLET
     LogPrintf("No wallet support compiled in!\n");
 #endif // !ENABLE_WALLET
diff --git a/src/wallet/wallet.cpp b/src/wallet/wallet.cpp
index 6ce7fcbb2..d409d7480 100644
--- a/src/wallet/wallet.cpp
+++ b/src/wallet/wallet.cpp
@@ -2991,6 +2991,164 @@ std::string CWallet::GetWalletHelpString(bool showDebug)
     return strUsage;
 }
 
+CWallet* CWallet::InitLoadWallet(bool fDisableWallet, const std::string& strWalletFile, std::string& warningString, std::string& errorString)
+{
+    // needed to restore wallet transaction meta data after -zapwallettxes
+    std::vector<CWalletTx> vWtx;
+
+    if (GetBoolArg("-zapwallettxes", false)) {
+        uiInterface.InitMessage(_("Zapping all transactions from wallet..."));
+
+        CWallet *tempWallet = new CWallet(strWalletFile);
+        DBErrors nZapWalletRet = tempWallet->ZapWalletTx(vWtx);
+        if (nZapWalletRet != DB_LOAD_OK) {
+            errorString = _("Error loading wallet.dat: Wallet corrupted");
+            uiInterface.InitMessage(_("Error loading wallet.dat: Wallet corrupted"));
+            return NULL;
+        }
+
+        delete tempWallet;
+        tempWallet = NULL;
+    }
+
+    uiInterface.InitMessage(_("Loading wallet..."));
+
+    int64_t nStart = GetTimeMillis();
+    bool fFirstRun = true;
+    CWallet *walletInstance = new CWallet(strWalletFile);
+    DBErrors nLoadWalletRet = walletInstance->LoadWallet(fFirstRun);
+    if (nLoadWalletRet != DB_LOAD_OK)
+    {
+        if (nLoadWalletRet == DB_CORRUPT)
+            errorString += _("Error loading wallet.dat: Wallet corrupted") + "\n";
+        else if (nLoadWalletRet == DB_NONCRITICAL_ERROR)
+        {
+            warningString += _("Error reading wallet.dat! All keys read correctly, but transaction data"
+                          " or address book entries might be missing or incorrect.");
+        }
+        else if (nLoadWalletRet == DB_TOO_NEW)
+            errorString += strprintf(_("Error loading wallet.dat: Wallet requires newer version of %s"), _(PACKAGE_NAME)) + "\n";
+        else if (nLoadWalletRet == DB_NEED_REWRITE)
+        {
+            errorString += strprintf(_("Wallet needed to be rewritten: restart %s to complete"), _(PACKAGE_NAME)) + "\n";
+            LogPrintf("%s", errorString);
+        }
+        else
+            errorString += _("Error loading wallet.dat") + "\n";
+
+        if (!errorString.empty())
+            return NULL;
+    }
+
+    if (GetBoolArg("-upgradewallet", fFirstRun))
+    {
+        int nMaxVersion = GetArg("-upgradewallet", 0);
+        if (nMaxVersion == 0) // the -upgradewallet without argument case
+        {
+            LogPrintf("Performing wallet upgrade to %i\n", FEATURE_LATEST);
+            nMaxVersion = CLIENT_VERSION;
+            walletInstance->SetMinVersion(FEATURE_LATEST); // permanently upgrade the wallet immediately
+        }
+        else
+            LogPrintf("Allowing wallet upgrade up to %i\n", nMaxVersion);
+        if (nMaxVersion < walletInstance->GetVersion())
+        {
+            errorString += _("Cannot downgrade wallet") + "\n";
+            return NULL;
+        }
+        walletInstance->SetMaxVersion(nMaxVersion);
+    }
+
+    if (fFirstRun)
+    {
+        // Create new keyUser and set as default key
+        RandAddSeedPerfmon();
+
+        CPubKey newDefaultKey;
+        if (walletInstance->GetKeyFromPool(newDefaultKey)) {
+            walletInstance->SetDefaultKey(newDefaultKey);
+            if (!walletInstance->SetAddressBook(walletInstance->vchDefaultKey.GetID(), "", "receive"))
+            {
+                errorString += _("Cannot write default address") += "\n";
+                return NULL;
+            }
+        }
+
+        walletInstance->SetBestChain(chainActive.GetLocator());
+    }
+
+    LogPrintf(" wallet      %15dms\n", GetTimeMillis() - nStart);
+
+    RegisterValidationInterface(walletInstance);
+
+    CBlockIndex *pindexRescan = chainActive.Tip();
+    if (GetBoolArg("-rescan", false))
+        pindexRescan = chainActive.Genesis();
+    else
+    {
+        CWalletDB walletdb(strWalletFile);
+        CBlockLocator locator;
+        if (walletdb.ReadBestBlock(locator))
+            pindexRescan = FindForkInGlobalIndex(chainActive, locator);
+        else
+            pindexRescan = chainActive.Genesis();
+    }
+    if (chainActive.Tip() && chainActive.Tip() != pindexRescan)
+    {
+        //We can't rescan beyond non-pruned blocks, stop and throw an error
+        //this might happen if a user uses a old wallet within a pruned node
+        // or if he ran -disablewallet for a longer time, then decided to re-enable
+        if (fPruneMode)
+        {
+            CBlockIndex *block = chainActive.Tip();
+            while (block && block->pprev && (block->pprev->nStatus & BLOCK_HAVE_DATA) && block->pprev->nTx > 0 && pindexRescan != block)
+                block = block->pprev;
+
+            if (pindexRescan != block)
+            {
+                errorString = _("Prune: last wallet synchronisation goes beyond pruned data. You need to -reindex (download the whole blockchain again in case of pruned node)");
+                return NULL;
+            }
+        }
+
+        uiInterface.InitMessage(_("Rescanning..."));
+        LogPrintf("Rescanning last %i blocks (from block %i)...\n", chainActive.Height() - pindexRescan->nHeight, pindexRescan->nHeight);
+        nStart = GetTimeMillis();
+        walletInstance->ScanForWalletTransactions(pindexRescan, true);
+        LogPrintf(" rescan      %15dms\n", GetTimeMillis() - nStart);
+        walletInstance->SetBestChain(chainActive.GetLocator());
+        nWalletDBUpdated++;
+
+        // Restore wallet transaction metadata after -zapwallettxes=1
+        if (GetBoolArg("-zapwallettxes", false) && GetArg("-zapwallettxes", "1") != "2")
+        {
+            CWalletDB walletdb(strWalletFile);
+
+            BOOST_FOREACH(const CWalletTx& wtxOld, vWtx)
+            {
+                uint256 hash = wtxOld.GetHash();
+                std::map<uint256, CWalletTx>::iterator mi = walletInstance->mapWallet.find(hash);
+                if (mi != walletInstance->mapWallet.end())
+                {
+                    const CWalletTx* copyFrom = &wtxOld;
+                    CWalletTx* copyTo = &mi->second;
+                    copyTo->mapValue = copyFrom->mapValue;
+                    copyTo->vOrderForm = copyFrom->vOrderForm;
+                    copyTo->nTimeReceived = copyFrom->nTimeReceived;
+                    copyTo->nTimeSmart = copyFrom->nTimeSmart;
+                    copyTo->fFromMe = copyFrom->fFromMe;
+                    copyTo->strFromAccount = copyFrom->strFromAccount;
+                    copyTo->nOrderPos = copyFrom->nOrderPos;
+                    copyTo->WriteToDisk(&walletdb);
+                }
+            }
+        }
+    }
+    walletInstance->SetBroadcastTransactions(GetBoolArg("-walletbroadcast", DEFAULT_WALLETBROADCAST));
+
+    return walletInstance;
+}
+
 CKeyPool::CKeyPool()
 {
     nTime = GetTime();
diff --git a/src/wallet/wallet.h b/src/wallet/wallet.h
index 6312735c9..d009211a9 100644
--- a/src/wallet/wallet.h
+++ b/src/wallet/wallet.h
@@ -874,6 +874,9 @@ public:
 
     /* Returns the wallets help message */
     static std::string GetWalletHelpString(bool showDebug);
+
+    /* initializes the wallet, returns a new CWallet instance or a null pointer in case of an error */
+    static CWallet* InitLoadWallet(bool fDisableWallet, const std::string& strWalletFile, std::string& warningString, std::string& errorString);
 };
 
 /** A key allocated from the key pool. */