Hardware wallet firmware updates can improve security, fix vulnerabilities and add support for new features, but updating immediately is not always a simple decision. For long-term holders, the balance between staying current and avoiding unnecessary risk matters.
In general, ignoring firmware updates for years is not a good strategy. Security flaws can be discovered over time, and manufacturers may release fixes that protect against newly identified attack methods or improve device reliability.
At the same time, I do not think every update needs to be installed the moment it appears. For users storing significant amounts of crypto, it can make sense to wait briefly, review the release notes and confirm that there are no widespread reports of problems before updating a critical device.
The most important step is verifying that the update comes from the official wallet software or manufacturer channel. Fake firmware updates, phishing pages and malicious applications are a real threat. A legitimate update should never require you to enter a recovery phrase into a website or random application.
Backups also matter. Before updating, users should already have a verified recovery phrase stored securely. Firmware updates are usually designed to preserve wallet access, but long-term self-custody should never depend on one physical device remaining functional forever.
I also think frequency depends on how the wallet is used. A device connected regularly to DeFi applications and third-party wallets may benefit from staying more current than a hardware wallet that remains offline and is only accessed a few times per year.
Another consideration is compatibility. Wallet software, operating systems and blockchain networks evolve. Very old firmware can eventually create connection or transaction-signing problems even if there is no immediate security issue.
For me, the best approach is to treat firmware updates as part of routine wallet maintenance: monitor important releases, verify the source, read what changed and update deliberately rather than automatically clicking every notification.
How often do you update your hardware wallet firmware?
Do you install updates immediately, wait a few days for community feedback or only update when there is a major security fix?
And what checks do you perform before updating a device that holds significant crypto?