Achievement 2 - Basic Security on STEEM Blockchain

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Source: Cryptogecko Achievement 2

While using this amazing platform you have to take some precautions to secure your account. The first and important step is not to log in on any third-party sites other than steemit not unless you have done your own research about the project. Save your passwords or keys online secure vaults as well as offline. Every time you log in you don’t have to log in with the master key, login with the key with appropriate permission.

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Key functions and restriction:

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Posting key: The posting key is the everyday login key. It can only give us access to the post, comment, vote, edit, follow and resteem. The more you use your keys it is more likely to compromise your key. Login with posting key every day can restrict the damage because it only gives access for posting and comment and can’t give access for transfer. Therefore it can prevent your loss. The safest option is to use the posting key the most.

Active key: Active key is recommended to use only when it is necessary. It gives access to transfer, power up/down, etc. It can be used to transfer tokens, convert steem dollars, transactions, vote for witnesses, place market orders, and update profile details and avatar.

Owner key: With the owner key you can manage the other keys and also it gives access to do all tasks that you can do with the posting key and active key. The master key is the most powerful key. With the use of it, you can change any key including the owner key. It is more ideal to be stored offline.

Memo key: The memo key is only used for encrypting and decrypting memos while transferring funds. To encrypt a memo you have to use # sign before it.

Master key: The master key is superior because all the other keys are derived from the master key. You change all other keys through the master key. You can change the master key with the master password but, you can’t change the master password. You are recommended to use it to only recover a compromised account.

As you know the master key is the superior key, you have to keep it safe. If you forgot your master key and don’t have stored it in another place, it can’t be retrieved anywhere. It can change any other key with the use of the master key, but you can’t change the master key. If someone has access to your master key they also can get access to your account activities. They can steal your account as well as all of your tokens.

There is no way if you lose your master key/password. It is nearly impossible to retrieve it. So save your master password somewhere safe. It is recommended to store it offline as printed paper or digital offline storage as an external disk or flash drive.

Questions:

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Question -1: Have you retrieved all your keys on steemit?

Yup, I have retrieved all my keys on steemit. I have saved all my keys manually while I was opening my account. I have stored it offline on paper as well as on an online secure vault.

Question-2: Do you know each of these key functions and restrictions?

Yeah, I know all the key functions and their restrictions. I have studied well about when and where I would have to use the particular key.

Question-3: How do you plan to keep your master password?

I will consider storing my master password offline on printed paper as well as digital offline storage like an external disk or flash drive.

Question-4: Do you know how to transfer your steem token to another user account?

Yeah, I know it now. I just need to go to my wallet and click the dropdown button on the right side of STEEM.

Step 1 :

^{Step 1 : Click on the Steem/SBD balance to open the menu, Source}

Step 2 :

^{Step 2 : Enter the @accountname where you want to transfer the funds, Source}

Step 3 :

^{Step 3 : Enter the amount you want to be tranferred, Source}

Step 4 :

^{Step 4 : Add any message in the memo section & click on the next button to authorize the transaction, Source}

Question-5: Do you know how to power up your STEEM?

Yes, I know how to do it.

Step 1 :

^{Step 1 : Click on the Steem/SBD balance to open the menu, Source}

Step 2 :

^{Step 2 : Enter the amount you want to power up & click next to authorize the transaction, Source}

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Here is my Achievement 1 Task Link

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Thank you for reading this post

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