diff --git a/core/src/main/java/bisq/core/api/StatusCheck.java b/core/src/main/java/bisq/core/api/StatusCheck.java
new file mode 100644
index 0000000000..43d624fd6a
--- /dev/null
+++ b/core/src/main/java/bisq/core/api/StatusCheck.java
@@ -0,0 +1,60 @@
+package bisq.core.api;
+
+import bisq.core.btc.Balances;
+import bisq.core.btc.setup.WalletsSetup;
+import bisq.core.btc.wallet.WalletsManager;
+import bisq.core.dao.state.DaoStateService;
+
+import bisq.network.p2p.P2PService;
+
+import bisq.common.config.Config;
+
+import javax.inject.Inject;
+import javax.inject.Singleton;
+
+import lombok.extern.slf4j.Slf4j;
+
+@Singleton
+@Slf4j
+class StatusCheck {
+
+    private final Config config;
+    private final P2PService p2PService;
+    private final DaoStateService daoStateService;
+    private final WalletsSetup walletsSetup;
+    private final WalletsManager walletsManager;
+    private final Balances balances;
+
+    @Inject
+    public StatusCheck(Config config,
+                       P2PService p2PService,
+                       DaoStateService daoStateService,
+                       WalletsSetup walletsSetup,
+                       WalletsManager walletsManager,
+                       Balances balances) {
+        this.config = config;
+        this.p2PService = p2PService;
+        this.daoStateService = daoStateService;
+        this.walletsSetup = walletsSetup;
+        this.walletsManager = walletsManager;
+        this.balances = balances;
+    }
+
+    public void verifyCanTrade() {
+        if (!p2PService.isBootstrapped())
+            throw new IllegalStateException("p2p service is not yet bootstrapped");
+
+        if (!daoStateService.isParseBlockChainComplete())
+            throw new IllegalStateException("dao block chain sync is not yet complete");
+
+        if (config.baseCurrencyNetwork.isMainnet()
+                && p2PService.getNumConnectedPeers().get() < walletsSetup.getMinBroadcastConnections())
+            throw new IllegalStateException("not enough connected peers");
+
+        if (!walletsManager.areWalletsAvailable())
+            throw new IllegalStateException("wallet is not yet available");
+
+        if (balances.getAvailableBalance().get() == null)
+            throw new IllegalStateException("balance is not yet available");
+    }
+}