diff --git a/pkg/boltz/ws.go b/pkg/boltz/ws.go
index e9fa854b..d9be8285 100644
--- a/pkg/boltz/ws.go
+++ b/pkg/boltz/ws.go
@@ -7,6 +7,7 @@ import (
 	"net/http"
 	"net/url"
 	"slices"
+	"sync"
 	"time"
 
 	"github.com/BoltzExchange/boltz-client/v2/internal/logger"
@@ -24,15 +25,17 @@ type SwapUpdate struct {
 }
 
 type Websocket struct {
-	Updates chan SwapUpdate
-
-	apiUrl        string
-	subscriptions chan bool
-	conn          *websocket.Conn
-	closed        bool
-	reconnect     bool
-	dialer        *websocket.Dialer
-	swapIds       []string
+	Updates     chan SwapUpdate
+	updatesLock sync.Mutex
+
+	apiUrl            string
+	subscriptions     chan bool
+	conn              *websocket.Conn
+	closed            bool
+	dialer            *websocket.Dialer
+	swapIds           []string
+	swapIdsLock       sync.Mutex
+	reconnectInterval time.Duration
 }
 
 type wsResponse struct {
@@ -51,14 +54,18 @@ func (boltz *Api) NewWebsocket() *Websocket {
 	}
 
 	return &Websocket{
-		apiUrl:        boltz.URL,
-		subscriptions: make(chan bool),
-		dialer:        &dialer,
-		Updates:       make(chan SwapUpdate),
+		apiUrl:            boltz.URL,
+		subscriptions:     make(chan bool),
+		dialer:            &dialer,
+		Updates:           make(chan SwapUpdate),
+		reconnectInterval: reconnectInterval,
 	}
 }
 
 func (boltz *Websocket) Connect() error {
+	if boltz.closed {
+		return errors.New("websocket is closed")
+	}
 	wsUrl, err := url.Parse(boltz.apiUrl)
 	if err != nil {
 		return err
@@ -108,12 +115,13 @@ func (boltz *Websocket) Connect() error {
 		for {
 			msgType, message, err := conn.ReadMessage()
 			if err != nil {
-				if boltz.closed {
-					close(boltz.Updates)
-					return
-				}
-				if !boltz.reconnect {
+				// if `close` was intentionally called, `Connected` will return false
+				// since the connection has already been set to nil.
+				if boltz.Connected() {
+					boltz.conn = nil
 					logger.Error("could not receive message: " + err.Error())
+				} else {
+					return
 				}
 				break
 			}
@@ -122,58 +130,56 @@ func (boltz *Websocket) Connect() error {
 
 			switch msgType {
 			case websocket.TextMessage:
-				var response wsResponse
-				if err := json.Unmarshal(message, &response); err != nil {
-					logger.Errorf("could not parse websocket response: %s", err)
-					continue
-				}
-				if response.Error != "" {
-					logger.Errorf("boltz websocket error: %s", response.Error)
-					continue
-				}
-
-				switch response.Event {
-				case "update":
-					switch response.Channel {
-					case "swap.update":
-						for _, arg := range response.Args {
-							var update SwapUpdate
-							if err := mapstructure.Decode(arg, &update); err != nil {
-								logger.Errorf("invalid boltz response: %v", err)
-							}
-							boltz.Updates <- update
-						}
-					default:
-						logger.Warnf("unknown update channel: %s", response.Channel)
-					}
-				case "subscribe":
-					boltz.subscriptions <- true
-					continue
-				default:
-					logger.Warnf("unknown event: %s", response.Event)
+				if err := boltz.handleTextMessage(message); err != nil {
+					logger.Errorf("could not handle websocket message: %s", err)
 				}
+			default:
+				logger.Warnf("unknown message type: %v", msgType)
 			}
 		}
+		pingTicker.Stop()
 		for {
-			pingTicker.Stop()
-			if boltz.reconnect {
-				boltz.reconnect = false
-				return
-			} else {
-				logger.Errorf("lost connection to boltz ws, reconnecting in %s", reconnectInterval)
-				time.Sleep(reconnectInterval)
-			}
+			logger.Errorf("lost connection to boltz ws, reconnecting in %s", boltz.reconnectInterval)
+			time.Sleep(boltz.reconnectInterval)
 			err := boltz.Connect()
 			if err == nil {
 				return
 			}
 		}
 	}()
+	return nil
+}
 
-	if len(boltz.swapIds) > 0 {
-		return boltz.subscribe(boltz.swapIds)
+func (boltz *Websocket) handleTextMessage(data []byte) error {
+	boltz.updatesLock.Lock()
+	defer boltz.updatesLock.Unlock()
+	var response wsResponse
+	if err := json.Unmarshal(data, &response); err != nil {
+		return fmt.Errorf("invalid json: %s", err)
+	}
+	if response.Error != "" {
+		return fmt.Errorf("boltz error: %s", response.Error)
 	}
 
+	switch response.Event {
+	case "update":
+		switch response.Channel {
+		case "swap.update":
+			for _, arg := range response.Args {
+				var update SwapUpdate
+				if err := mapstructure.Decode(arg, &update); err != nil {
+					return fmt.Errorf("invalid boltz response: %v", err)
+				}
+				boltz.Updates <- update
+			}
+		default:
+			logger.Warnf("unknown update channel: %s", response.Channel)
+		}
+	case "subscribe":
+		boltz.subscriptions <- true
+	default:
+		logger.Warnf("unknown ws event: %s", response.Event)
+	}
 	return nil
 }
 
@@ -201,6 +207,14 @@ func (boltz *Websocket) subscribe(swapIds []string) error {
 }
 
 func (boltz *Websocket) Subscribe(swapIds []string) error {
+	if len(swapIds) == 0 {
+		return nil
+	}
+	if !boltz.Connected() {
+		if err := boltz.Connect(); err != nil {
+			return fmt.Errorf("could not connect boltz ws: %w", err)
+		}
+	}
 	if err := boltz.subscribe(swapIds); err != nil {
 		// the connection might be dead, so forcefully reconnect
 		if err := boltz.Reconnect(); err != nil {
@@ -210,29 +224,54 @@ func (boltz *Websocket) Subscribe(swapIds []string) error {
 			return err
 		}
 	}
+	boltz.swapIdsLock.Lock()
 	boltz.swapIds = append(boltz.swapIds, swapIds...)
+	boltz.swapIdsLock.Unlock()
 	return nil
 }
 
 func (boltz *Websocket) Unsubscribe(swapId string) {
+	boltz.swapIdsLock.Lock()
+	defer boltz.swapIdsLock.Unlock()
 	boltz.swapIds = slices.DeleteFunc(boltz.swapIds, func(id string) bool {
 		return id == swapId
 	})
 	logger.Debugf("Unsubscribed from swap %s", swapId)
+	if len(boltz.swapIds) == 0 {
+		logger.Debugf("No more pending swaps, disconnecting websocket")
+		if err := boltz.close(); err != nil {
+			logger.Warnf("could not close boltz ws: %v", err)
+		}
+	}
+}
+
+func (boltz *Websocket) close() error {
+	if conn := boltz.conn; conn != nil {
+		boltz.conn = nil
+		return conn.Close()
+	}
+	return nil
 }
 
 func (boltz *Websocket) Close() error {
+	// setting this flag will cause the `Updates` channel to be closed
+	// in the receiving goroutine. this isn't done here to avoid a situation
+	// where we close the channel while the receiving routine is processing an incoming message
+	// and then tries to send on the closed channel.
+	boltz.updatesLock.Lock()
+	defer boltz.updatesLock.Unlock()
+	close(boltz.Updates)
 	boltz.closed = true
-	return boltz.conn.Close()
+	return boltz.close()
+}
+
+func (boltz *Websocket) Connected() bool {
+	return boltz.conn != nil
 }
 
 func (boltz *Websocket) Reconnect() error {
-	if boltz.closed {
-		return errors.New("websocket is closed")
-	}
 	logger.Infof("Force reconnecting to Boltz ws")
-	boltz.reconnect = true
-	if err := boltz.conn.Close(); err != nil {
+	if err := boltz.close(); err != nil {
 		logger.Warnf("could not close boltz ws: %v", err)
 	}
 	return boltz.Connect()
diff --git a/pkg/boltz/ws_test.go b/pkg/boltz/ws_test.go
index 702a3f72..70a7f44d 100644
--- a/pkg/boltz/ws_test.go
+++ b/pkg/boltz/ws_test.go
@@ -6,27 +6,96 @@ import (
 	"github.com/BoltzExchange/boltz-client/v2/internal/logger"
 	"github.com/stretchr/testify/require"
 	"testing"
+	"time"
 )
 
-func TestWebsocketReconnect(t *testing.T) {
+func setupWs(t *testing.T) *Websocket {
 	logger.Init(logger.Options{Level: "debug"})
 	api := Api{URL: "http://localhost:9001"}
-
 	ws := api.NewWebsocket()
-	err := ws.Connect()
-	require.NoError(t, err)
+	require.False(t, ws.Connected())
+	return ws
+}
+
+func TestWebsocketLazy(t *testing.T) {
+	ws := setupWs(t)
 
 	firstId := "swapId"
-	err = ws.Subscribe([]string{firstId})
+	secondId := "anotherSwapId"
+	err := ws.Subscribe([]string{firstId, secondId})
 	require.NoError(t, err)
 
-	firstConn := ws.conn
-	err = firstConn.Close()
-	require.NoError(t, err)
+	require.Equal(t, []string{firstId, secondId}, ws.swapIds)
+	require.True(t, ws.Connected())
+	require.NotNil(t, ws.conn)
 
-	anotherId := "anotherSwapId"
-	err = ws.Subscribe([]string{anotherId})
-	require.NoError(t, err)
-	require.NotEqual(t, firstConn, ws.conn, "subscribe should reconnect forcefully")
-	require.Equal(t, []string{firstId, anotherId}, ws.swapIds)
+	ws.Unsubscribe(firstId)
+	require.True(t, ws.Connected())
+	require.Equal(t, []string{secondId}, ws.swapIds)
+	ws.Unsubscribe(secondId)
+
+	require.False(t, ws.Connected())
+	require.Nil(t, ws.conn)
+}
+
+func TestWebsocketReconnect(t *testing.T) {
+	setup := func(t *testing.T) *Websocket {
+		ws := setupWs(t)
+		require.NoError(t, ws.Connect())
+		require.True(t, ws.Connected())
+		return ws
+	}
+
+	t.Run("Automatic", func(t *testing.T) {
+		ws := setup(t)
+		ws.reconnectInterval = 50 * time.Millisecond
+		firstConn := ws.conn
+		require.NoError(t, ws.conn.Close())
+
+		waitFor := time.Second
+
+		require.Eventually(t, func() bool {
+			return !ws.Connected()
+		}, waitFor, ws.reconnectInterval)
+
+		require.Eventually(t, func() bool {
+			return ws.Connected()
+		}, waitFor, ws.reconnectInterval)
+
+		newConn := ws.conn
+		require.NotNil(t, newConn)
+		require.NotEqual(t, firstConn, newConn)
+	})
+
+	t.Run("Force", func(t *testing.T) {
+		ws := setup(t)
+		firstConn := ws.conn
+
+		err := ws.Subscribe([]string{"swapId"})
+		require.NoError(t, err)
+
+		require.NoError(t, ws.conn.Close())
+
+		err = ws.Subscribe([]string{"anotherSwapId"})
+		require.NoError(t, err)
+		require.NotEqual(t, firstConn, ws.conn, "subscribe should reconnect forcefully")
+		require.True(t, ws.Connected())
+	})
+
+}
+
+func TestWebsocketShutdown(t *testing.T) {
+	ws := setupWs(t)
+	require.NoError(t, ws.Connect())
+	require.True(t, ws.Connected())
+
+	require.NoError(t, ws.Close())
+	require.True(t, ws.closed)
+	require.False(t, ws.Connected())
+	require.Eventually(t, func() bool {
+		_, ok := <-ws.Updates
+		return !ok
+	}, time.Second, 10*time.Millisecond)
+
+	require.Error(t, ws.Subscribe([]string{"swapId"}))
 }