After navigating the wonderful world of STEEM, after going through numerous helpful articles by experienced steem users and obviously, under an incredible tutelage of @zzzinnn, here are a few helpful notes I would love to share about my understanding of my STEEM account basic security;
For clarity and coherence, I would like to make my post conversational. That is, posing a question at a time and following it with an answer; this I would repeat till my last question is trash out.
QUESTION: HAVE YOU RETRIEVED ALL YOUR KEYS?
ANSWER: YES, I have. Right after a successful sign up I have accordingly retrieved all my keys.
QUESTION: DO YOU DO EACH OF THE KEYS FUNCTIONS AND RESTRICTIONS?
ANSWER: YES, I do. I had taking the pain to go through all the reading resource that was furnished me after my first achievement. Allow me to explain in detail, the uses of each key below;
POSTING KEY: This key is used for the daily routine logins, commenting, resteeming, posting, editing, voting, following and or muting other steem users.
ACTIVE KEY: The use or uses of the active key is more delicate. It is used for powering up and powering down, the transfer of tokens to and fro other steem users, steem backed dollar conversions, updating profile details, placing market orders and voting for witnesses.
OWNER KEY: It is used mostly out of outright necessity; that is, in cases of accounts been compromised. Its usage is also to alter each of the keys( owner key inclusive).
MASTER KEY: Its name "master" details the control it exerts over the other keys. It is used to generate all the other keys and it is very instrumental in accounts recovery processes. Master key must always be kept in safe and secured location; that is, in paper prints, flush drives and other secured storage devices.
MEMO KEY: The memo key is used in encrypting and decrypting memos whose attachments are desired in transferring tokens.
I trust the above explanation of keys usages and or restrictions would be enough to guide a wanderer on STEEM platform.
QUESTION: HOW DO YOU PLAN TO KEEP YOUR MASTER PASSWORD?
ANSWER: in a digitized world, I plan to keep digital replicas of my master password on separate and secured digital storage devices. Also, hard copy of it will be kept in secured location; with other several copies made just in case of an unforseen misplacement and or destruction.
QUESTION: DO YOU KNOW HOW TO TRANSFER YOUR STEEM TOKEN TO ANOTHER STEEM USER'S ACCOUNT?
ANSWER: YES, I do. In the wallet section of every steem account, there is a particular portion dignified for showing the number of steems accrued by a user. Just next to it, an arrow points downwards, click on the arrow, click on transfer on the drop box that will show, follow that with entering the account name of the user who is to receive the tokens, the number of tokens and a memo(optional) then click on next. On the confirmation pop up that will show, click Okay to confirm; that is, after choosing to enter a memo or otherwise. Note: only liquid tokens, that is, tokens which are not locked up or has been powered up, can be transferred.
QUESTION: DO YOU KNOW HOW TO POWER UP YOUR STEEM?
ANSWER: YES, I do. Similar to the transfer of funds, you will click on the arrow next to the number of steems and now select power up instead of transfer in the drop box. An amount signifying the users total amount of steems will show, enter a desired amount you want to power up and gently click on the power up button and it will be all but done.
This is not an excellent writeup, I know, I just hope it lives to play, to the utmost best, its role on guiding steem users on the basic security on this wondrous platform.