ACHIEVEMENT 2 @pilatejnr TASK: BASIC SECURITY ON STEEM

Dear Steemians,

I deem it, a great honour to be bestowed this opportunity to be part of this Steemit blockchain. This is my submission on the achievement 2 task which enlightens you guys on the basic security on Steemit.

At first, i found it very confusing understanding the basic security of Steeemit until i sat with my friend @cherub27 and with the mentorship piece from @cryptokannon to understand how to keep my account secured and the uses of the various keys.

I have received all my keys. Steemit gives you the user multiple keys namely; the posting key, active key, the owner key, memo key and the master password which safeguard your account from third parties and also conduct all your trading with the cryptocurrencies.

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HOW TO VIEW KEYS

• Log into your wallet with the your active key

• Select Keys and Permission

• Choose from the available option and select the key you want to view

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THE KEYS AND THEIR FUNCTIONS

POSTING KEY

This keys allows you to login into your account. it helps you to post, comment, edit, vote, resteem, follow and mute other accounts. it is used daily since it's used in logging into your account. Although it is not used in monetary transaction but one must keep it safe to avoid third parties to have access to your account to post, vote, resteem and mute others accounts without your permission.

ACTIVE KEY

This is mostly used in the monetary transaction. it is used in transferring funds, converting Steem dollars, voting for witnesses, updating profile details and avatar and placing a market order. Since it is used in the monetary aspect and setting or editing one's profile, this key must be kept secure at all things to prevent third parties from completing taking control of one's account and cryptocurrencies.

OWNER KEY

This is the one of most powerful key among the keys since it can be used to change the other keys passwords as it name implies "owner" except the master password. It can also be used to recover an account when it gets hacked and therefore must be stored offline and even printed. And it is highly sought after by hackers since it gives them total control of your account, therefore very important to keep it secure at all times.

MEMO KEY

This key is also important as it is use to encrypt and decrypt memos when transferring funds. Since it is used to secure your transaction information when transferring funds to other account makes it special as it prevent third parties from intercepting your funds in the course of transferring money in the crypto market.

MASTER PASSWORD

This is the first key you receive when you sign up to this lovely platform. it is the most important key as it controls all the parts of your account and therefore must be kept secured both offline and on a printed document. the master password is used to derive all the other keys namely posting keys, active key, memo key and the owner key.

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THE DIFFERENCE BETWEEEN MASTER PASSWORD AND OWNER KEY

Master password is used to generate or derive all the keys and also allows you to change all keys passcodes while Owner key is also used to generate and change all the keys except the master password.

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TRANSFERRING OF STEEM TOKEN

The following procedures must be followed when transferring one's token to other Steem user's account;

• Log into your wallet with your active key

• Click on the inverted triangle beside your token

• Then you select Transfer
  

  

• Then you enter the username of the account you wish to transfer the token to and write any memo you wish to get across to the account holder.

• Then you confirm the details and click on OK to complete the transfer.

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POWERING UP YOUR STEEM

The following procedures should be followed to power up your Steem;

• Log into your wallet with your active key.
  

  

• Click on the inverted triangle beside your Steem Token.

• Then you select Power Up

• Then you enter the amount to power up and click on the Power Up to boost your Steem.

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Thank you for reading through

Cc:
@steemcurator01
@steemcurator02
@steemcurator03
@steemalive
@trafalgar
@cryptokannon
@njaywan