Hello and good day fellow Steemians, i suppose ya'll having a great day.
On these post I would be taking you through on all keys and their functions on these platform.
THE BASIC SECURITY KEYS.
There are five (5) keys that helps your account function better and safely:
Master password
Posting key
Active key
Owner key
Memo key
FUNCTIONS OF THESE KEYS.
√. Master Password:- It is used to retrieve my account if I happen to lost my password or owner's key since my account has real value. It is gotten at the end of creating an account and it is the most important as it oversees other keys.
√. POSTING KEY:- These key is used on your account to post, comment, edit, vote, resteem, and follow or mute other accounts. It is meant to be used every day for daily activities.
√.Active Key:- These key is for transferring funds, voting for witnesses, power up/down transactions, placing a market order, converting Steem Dollars, and updating profile details and avatar. It is the most sensitive key for sensitive tasks.
√. Owner key:- These is the most powerful key and only used when necessary. It can change any key of an account, including the owner key. It is better backed up offline, and only used to recover a lost or hacked account.
√.Memo key:- This key is mainly used for encrypting and decrypting memos when transferring funds.
KEEPING MY MASTER PASSWORD AND KEYS SAFE.
As soon as my account was created and verified, I had to back up all my passwords and keys on my emails, hard drives, laptop and also a hard copy which is my diary. With all these I am certain of not losing any of them totally.
HOW TO TRANSFER MY STEEM TOKEN TO ANOTHER STEEM USER ACCOUNT.
Yes, I know how to transfer my steem token to another Steem user account through the following steps:
√. Step 1: I will login to my wallet, using my username and active key.
√. Step 2: I will click on the small arrow beside my Steem dollar balance and then select transfer.
√. Step 3: I will input my username first and the recipient I want to transfer to, put the amount and then click next and confirm it.
By following the above steps, the transfer would be successful.
HOW TO POWER UP MY STEEM:
Steem Power: This represents my investment in steemit inc. I can transfer this steem power to liquid (steem) in a process called power down which will typically take 4weeks.
However having more steem power allows me to comment and do other transactions like posting. Therefore having this steem power gives my account more influence.
SBD-Steem Backed Dollars: The steem backed dollars can be traded for steem or transferred to another account.
At these point I am confident of the security measures needed for STEEM.
Thanks to you all for taking out time to read these, i look forward to providing more useful articles soon. @sambee and @focusnow more wins your way.
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