diff --git a/src/components/MultiHopTrade/hooks/useReceiveAddress.tsx b/src/components/MultiHopTrade/hooks/useReceiveAddress.tsx
index a50c34b977e..f8825d8d403 100644
--- a/src/components/MultiHopTrade/hooks/useReceiveAddress.tsx
+++ b/src/components/MultiHopTrade/hooks/useReceiveAddress.tsx
@@ -45,23 +45,12 @@ export const useReceiveAddress = ({
   // flashing during state changes. Any of the conditions below returning true should be treated as
   // "we're not yet ready to determine if a wallet receive address is available"
   const isInitializing = useMemo(() => {
-    if (!buyAsset || !wallet || !buyAccountId || !buyAccountMetadata) {
-      return true
-    }
-
-    const buyAssetChainId = buyAsset.chainId
-    const buyAssetAccountChainId = fromAccountId(buyAccountId).chainId
-
-    /**
-     * do NOT remove
-     * super dangerous - don't use the wrong bip44 params to generate receive addresses
-     */
-    if (buyAssetChainId !== buyAssetAccountChainId) {
+    if (!buyAsset || !wallet) {
       return true
     }
 
     return false
-  }, [buyAccountId, buyAccountMetadata, buyAsset, wallet])
+  }, [buyAsset, wallet])
 
   const { data: walletReceiveAddress, isLoading } = useQuery({
     queryKey: [
@@ -76,9 +65,22 @@ export const useReceiveAddress = ({
     queryFn: isInitializing
       ? skipToken
       : async () => {
-          // Already covered in shouldSkip, but TypeScript lyfe mang.
+          // Already partially covered in isInitializing, but TypeScript lyfe mang.
           if (!buyAsset || !wallet || !buyAccountId || !buyAccountMetadata) {
-            return
+            return undefined
+          }
+
+          const buyAssetChainId = buyAsset.chainId
+          const buyAssetAccountChainId = buyAccountId
+            ? fromAccountId(buyAccountId).chainId
+            : undefined
+
+          /**
+           * do NOT remove
+           * super dangerous - don't use the wrong bip44 params to generate receive addresses
+           */
+          if (buyAssetChainId !== buyAssetAccountChainId) {
+            return undefined
           }
 
           if (isUtxoAccountId(buyAccountId) && !buyAccountMetadata?.accountType)
diff --git a/src/state/slices/tradeInputSlice/tradeInputSlice.ts b/src/state/slices/tradeInputSlice/tradeInputSlice.ts
index b2e75338605..ec961819ffb 100644
--- a/src/state/slices/tradeInputSlice/tradeInputSlice.ts
+++ b/src/state/slices/tradeInputSlice/tradeInputSlice.ts
@@ -59,6 +59,14 @@ export const tradeInput = createSlice({
         state.sellAmountCryptoPrecision = '0'
       }
 
+      // Reset the buyAssetAccountId if the chain has changed
+      if (asset.chainId !== state.buyAsset.chainId) {
+        state.buyAssetAccountId = undefined
+      }
+
+      // Reset the manual receive address
+      state.manualReceiveAddress = undefined
+
       state.buyAsset = asset
     },
     setSellAsset: (state, action: PayloadAction<Asset>) => {
@@ -76,6 +84,14 @@ export const tradeInput = createSlice({
       // clear the sell amount
       state.sellAmountCryptoPrecision = '0'
 
+      // Reset the sellAssetAccountId if the chain has changed
+      if (asset.chainId !== state.sellAsset.chainId) {
+        state.sellAssetAccountId = undefined
+      }
+
+      // Reset the manual receive address
+      state.manualReceiveAddress = undefined
+
       state.sellAsset = action.payload
     },
     setSellAssetAccountId: (state, action: PayloadAction<AccountId | undefined>) => {
@@ -89,10 +105,19 @@ export const tradeInput = createSlice({
       state.sellAmountCryptoPrecision = bnOrZero(action.payload).toString()
     },
     switchAssets: state => {
+      // Switch the assets
       const buyAsset = state.sellAsset
       state.sellAsset = state.buyAsset
       state.buyAsset = buyAsset
       state.sellAmountCryptoPrecision = '0'
+
+      // Switch the account IDs
+      const sellAssetAccountId = state.sellAssetAccountId
+      state.sellAssetAccountId = state.buyAssetAccountId
+      state.buyAssetAccountId = sellAssetAccountId
+
+      // Reset the manual receive address
+      state.manualReceiveAddress = undefined
     },
     setManualReceiveAddress: (state, action: PayloadAction<string | undefined>) => {
       state.manualReceiveAddress = action.payload