INTRODUCTION
Hello Steemians, hope everyone is sound and safe. i am excited to tell you that i have completed my achievement 1 task, and I'm moving to achievement 2; Basic Security On Steem. It is very important to know the functions of these keys so as to know how and when to use it. It will also help us to protect our account and keep it safe.
Master Password: The master password is the seed password that is used to generate every other keys including the owner key. When you sign up to steemit for the first time, you will be given a master password that will be sent to your Email in a pdf format.
UNDERSTANDING THE STEEMIT WALLET
What Is A Wallet
A wallet is a place where a user can save funds, steem power, and steem dollars online and view any financial transaction.
Question 1
Have you retrieve all your keys on steemit?
Answer
Yes i have retrieved all my keys on steemit from the pdf file that was sent to my email.
The keys are:
PRIVATE POSTING KEY
PRIVATE ACTIVE KEY
PRIVATE OWNER KEY:
MEMO KEY
Question 2
Do you know each of these key functions and restrictions?
Answer
Yes i know the functions of these keys and it's restrictions.
How To Differentiate The Account Keys (FUNCTIONS)
POSTING KEY: This key is used when you want to log in to your steemit account to perform different task such as commenting, posting, editing, resteem, voting, and follow or mute other account
ACTIVE KEY: This key is used to perform other sensitive task such as; Transferring Funds, Power Steem up or down, Voting for witnesses, converting steem dollars, change your profile and update information, and also placing a market order.
PRIVATE OWNER KEY: This key is used to recover an account that has been compromised. It can also be used to change every other keys. It is always advised to keep this particular key offline. You can possibly store it in a flash drive, or write out the key in a book and keep it safe. Saving it in your email is also a good idea.
MEMO KEY: This is used to decrypt and encrypt private messages that is sent or received when transferring funds. A pound/# sign can be used to encrypt a memo.
The functions of these keys has been stated above
Question 3
How do you plan to keep your master password
Answer
I intend to keep my master password by storing them in a flash drive, Email, and also copy it to my diary book so as to retrieve it anytime i want
Question 4
Do you know how to transfer your steem token to another steem user account?
Answer
Yes i know the process of transferring my steem token to another steem account. The process of transferring my steem token to another steem user account is;
< Log in to your steemit account with my posting key then I use my active key to login into steemit wallet and then make my transaction
< click on Balances and screw down to steem
< click on steem, a drop down menu will appear which includes; Transfer, Transfer to savings, Power up, Trade and market
< Click on transfer, it will take you to a page, then you can move your token to another steem account, input the amount u will transfer. Fill the memo and click on next.
< A confirmation page will show, so you can confirm your transaction.
< Click ok. Your steem token will be transferred to another steem account.
Question 5
Do you know how to power up your steem?
Answer
< Click on steem, a drop down menu will appear
< Choose Power up, a page will come up showing you where to input the amount you will power up
< Click on Power up, a confirmation page will come up, telling you to confirm what you are about to do.
< Click ok after confirming.
Hi, @loolluv you don't use an active password to log into your wallet edit your post and state the right key you will use in opening your wallet and also state the one you will use for validating transactions.
Tag me when you're done ✅
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Thank you for the correction
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Thank you very much, I'm grateful. I will give my best in participating in contest by creating my own content.
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Hi @loolluv continue keeping your keys safe, Making power up your habit because it's the only way you can grow your account.
Note you log in to your wallet with the private posting key, while you will use your active password to validate your transactions.
You may move to the next task #3 at your convenience.
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Thank you for the verification.
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Newcomer Team Curation Guidelines For March 2024
Curated by - @wilmer1988
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