diff --git a/electrum/json_db.py b/electrum/json_db.py
index 69b7f216b..83154536b 100644
--- a/electrum/json_db.py
+++ b/electrum/json_db.py
@@ -193,8 +193,16 @@ class JsonDB(Logger):
         return False
 
     @locked
-    def dump(self):
-        return json.dumps(self.data, indent=4, sort_keys=True, cls=JsonDBJsonEncoder)
+    def dump(self, *, human_readable: bool = True) -> str:
+        """Serializes the DB as a string.
+        'human_readable': makes the json indented and sorted, but this is ~2x slower
+        """
+        return json.dumps(
+            self.data,
+            indent=4 if human_readable else None,
+            sort_keys=bool(human_readable),
+            cls=JsonDBJsonEncoder,
+        )
 
     def _should_convert_to_stored_dict(self, key) -> bool:
         return True
diff --git a/electrum/storage.py b/electrum/storage.py
index ab67fe643..652b5330a 100644
--- a/electrum/storage.py
+++ b/electrum/storage.py
@@ -78,8 +78,7 @@ class WalletStorage(Logger):
     def read(self):
         return self.decrypted if self.is_encrypted() else self.raw
 
-    @profiler
-    def write(self, data):
+    def write(self, data: str) -> None:
         s = self.encrypt_before_writing(data)
         temp_path = "%s.tmp.%s" % (self.path, os.getpid())
         with open(temp_path, "w", encoding='utf-8') as f:
diff --git a/electrum/wallet_db.py b/electrum/wallet_db.py
index f60ec2263..b37a8b035 100644
--- a/electrum/wallet_db.py
+++ b/electrum/wallet_db.py
@@ -1238,13 +1238,15 @@ class WalletDB(JsonDB):
         with self.lock:
             self._write(storage)
 
+    @profiler
     def _write(self, storage: 'WalletStorage'):
         if threading.currentThread().isDaemon():
             self.logger.warning('daemon thread cannot write db')
             return
         if not self.modified():
             return
-        storage.write(self.dump())
+        json_str = self.dump(human_readable=not storage.is_encrypted())
+        storage.write(json_str)
         self.set_modified(False)
 
     def is_ready_to_be_used_by_wallet(self):