diff --git a/wallet/wallet.c b/wallet/wallet.c
index 99e604651..e65b40602 100644
--- a/wallet/wallet.c
+++ b/wallet/wallet.c
@@ -737,9 +737,12 @@ void wallet_channel_save(struct wallet *w, struct wallet_channel *chan)
 		/* Need to store the peer first */
 		stmt = db_prepare(w->db, "INSERT INTO peers (node_id, address) VALUES (?, ?);");
 		sqlite3_bind_pubkey(stmt, 1, &chan->peer->id);
-		sqlite3_bind_text(stmt, 2,
-				  type_to_string(tmpctx, struct wireaddr, &chan->peer->addr),
-				  -1, SQLITE_TRANSIENT);
+		if (chan->peer->addr.type == ADDR_TYPE_PADDING)
+			sqlite3_bind_null(stmt, 2);
+		else
+			sqlite3_bind_text(stmt, 2,
+					  type_to_string(tmpctx, struct wireaddr, &chan->peer->addr),
+					  -1, SQLITE_TRANSIENT);
 		db_exec_prepared(w->db, stmt);
 		p->dbid = sqlite3_last_insert_rowid(w->db->sql);
 	}