diff --git a/src/qt/qrimagewidget.cpp b/src/qt/qrimagewidget.cpp
index 52f1e60957e..e8017cee54a 100644
--- a/src/qt/qrimagewidget.cpp
+++ b/src/qt/qrimagewidget.cpp
@@ -54,36 +54,64 @@ bool QRImageWidget::setQR(const QString& data, const QString& text)
         return false;
     }
 
-    QImage qrImage = QImage(code->width + 8, code->width + 8, QImage::Format_RGB32);
-    qrImage.fill(0xffffff);
+    QImage qrImage = QImage(code->width, code->width, QImage::Format_RGB32);
     unsigned char *p = code->data;
     for (int y = 0; y < code->width; ++y) {
         for (int x = 0; x < code->width; ++x) {
-            qrImage.setPixel(x + 4, y + 4, ((*p & 1) ? 0x0 : 0xffffff));
+            qrImage.setPixel(x, y, ((*p & 1) ? 0x0 : 0xffffff));
             ++p;
         }
     }
     QRcode_free(code);
 
-    const int qr_image_size = QR_IMAGE_SIZE + (text.isEmpty() ? 0 : 2 * QR_IMAGE_MARGIN);
-    QImage qrAddrImage(qr_image_size, qr_image_size, QImage::Format_RGB32);
+    int qr_image_width = QR_IMAGE_SIZE + (2 * QR_IMAGE_MARGIN);
+    int qr_image_height = qr_image_width;
+    int qr_image_x_margin = QR_IMAGE_MARGIN;
+    int text_lines;
+    QFont font;
+    if (text.isEmpty()) {
+        text_lines = 0;
+    } else {
+        // Determine font to use
+        font = GUIUtil::fixedPitchFont();
+        font.setStretch(QFont::SemiCondensed);
+        font.setLetterSpacing(QFont::AbsoluteSpacing, 1);
+        const int max_text_width = qr_image_width - (2 * QR_IMAGE_TEXT_MARGIN);
+        const qreal font_size = GUIUtil::calculateIdealFontSize(max_text_width, text, font);
+        font.setPointSizeF(font_size);
+
+        // Plan how many lines are needed
+        QFontMetrics fm(font);
+        const int text_width = GUIUtil::TextWidth(fm, text);
+        if (text_width > max_text_width && text_width < max_text_width * 5 / 4) {
+            // Allow the image to grow up to 25% wider
+            qr_image_width = text_width + (2 * QR_IMAGE_TEXT_MARGIN);
+            qr_image_x_margin = (qr_image_width - QR_IMAGE_SIZE) / 2;
+            text_lines = 1;
+        } else {
+            text_lines = (text_width + max_text_width - 1) / max_text_width;
+        }
+        qr_image_height += (fm.height() * text_lines) + QR_IMAGE_TEXT_MARGIN;
+    }
+    QImage qrAddrImage(qr_image_width, qr_image_height, QImage::Format_RGB32);
     qrAddrImage.fill(0xffffff);
     {
         QPainter painter(&qrAddrImage);
-        painter.drawImage(QR_IMAGE_MARGIN, 0, qrImage.scaled(QR_IMAGE_SIZE, QR_IMAGE_SIZE));
+        painter.drawImage(qr_image_x_margin, QR_IMAGE_MARGIN, qrImage.scaled(QR_IMAGE_SIZE, QR_IMAGE_SIZE));
 
         if (!text.isEmpty()) {
             QRect paddedRect = qrAddrImage.rect();
-            paddedRect.setHeight(QR_IMAGE_SIZE + QR_IMAGE_TEXT_MARGIN);
+            paddedRect.setHeight(paddedRect.height() - QR_IMAGE_TEXT_MARGIN);
 
-            QFont font = GUIUtil::fixedPitchFont();
-            font.setStretch(QFont::SemiCondensed);
-            font.setLetterSpacing(QFont::AbsoluteSpacing, 1);
-            const qreal font_size = GUIUtil::calculateIdealFontSize(paddedRect.width() - 2 * QR_IMAGE_TEXT_MARGIN, text, font);
-            font.setPointSizeF(font_size);
+            QString text_wrapped = text;
+            const int char_per_line = (text.size() + text_lines - 1) / text_lines;
+            for (int line = 1, pos = 0; line < text_lines; ++line) {
+                pos += char_per_line;
+                text_wrapped.insert(pos, QChar{'\n'});
+            }
 
             painter.setFont(font);
-            painter.drawText(paddedRect, Qt::AlignBottom | Qt::AlignCenter, text);
+            painter.drawText(paddedRect, Qt::AlignBottom | Qt::AlignCenter, text_wrapped);
         }
     }
 
diff --git a/src/qt/qrimagewidget.h b/src/qt/qrimagewidget.h
index a031bd76320..55ae49e1614 100644
--- a/src/qt/qrimagewidget.h
+++ b/src/qt/qrimagewidget.h
@@ -12,9 +12,9 @@
 static const int MAX_URI_LENGTH = 255;
 
 /* Size of exported QR Code image */
-static constexpr int QR_IMAGE_SIZE = 300;
-static constexpr int QR_IMAGE_TEXT_MARGIN = 10;
-static constexpr int QR_IMAGE_MARGIN = 2 * QR_IMAGE_TEXT_MARGIN;
+static constexpr int QR_IMAGE_SIZE = 252;
+static constexpr int QR_IMAGE_TEXT_MARGIN = 8;
+static constexpr int QR_IMAGE_MARGIN = 24;
 
 QT_BEGIN_NAMESPACE
 class QMenu;