Sammy is a repented gambling addict that stumbled upon steemit via surfing the internet. Steemit kept him so occupied that with time, he started to shift his thoughts away from gambling and was making it big time on Steemit. He decided to preach the gospel of steemit to his old friends that have loosed lots of cash on betting.

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At first, when he introduced them to Steemit, they refused to believe him. They actually thought he was looking for a fraudulent means to take the little money they have left to go play gamble behind their back, Not until he showed them his account balance and how steemit made it possible, they became interested. Sammy told them, it doesn’t even involve money, all you have to do is just know how to read and write.

That day all of them registered. Few left along the way, because they thought it was a “get rich quick scheme”. The few that stayed were doing pretty well for themselves in a matter of months. From time to time, Sammy was checking up on them to know about their progress so far.

A time came, when people were having issues with their passwords, misplacing their master key, wallet been compromised out of newbies negligence. Sammy saw it necessary to hold an emergency meeting with his group to tell them about the “Basic security on steem”

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It was time for the meeting and everyone was set to learn something new from Sammy.

Sammy:
Good day everyone

Students:
Good day Sammy!!

Sammy:
I know most of you guys know why we’re here today but for the benefit of those who might not be aware, I’ll like to tell you that todays topic is

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Lately a lot has been happening on Steemit in regards to how newbie have been misplacing their password, some accounts are been hacked, some have been using only their master keys to access their Steemit account, making it vulnerable to third parties. The complains has been too much. That’s why I deemed it necessary to hold this meeting.

Sammy:

Students:
Yes sir!

Sammy:
These password are very important. The same way you protect your bank password, it’s the same way you should protect your Steemit password because of its monetary value. Password should be meant for your eyes only!

Student 1:
Sammy, I’ve a question, we noticed that when we were registering our account, we were giving a particular password from steemit. With that same password we got access to different keys like “Posting Key, activation key, owner key and key memo”

Sammy:
Beautiful question!!

I will be telling you guys about the different keys and it’s purpose.

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• Master key

I will first of all start with the “master key” because that’s king of all keys. Without that key, you are finished. Once you misplace this key, I will advise you, to just create a new account and kiss your money in the old account “goodbye” because know magic in this world can bring their money back not even Harry Potter the greatest wizard… so, is very important you keep this password very safe.

Another important function of the master key is, that without it , you cannot gain access to other keys like “Posting Key, activation key, owner key and key memo”. Imagine if someone mistakenly gain access to that key, he has the full right over your account. He can even decide to change your password and steal all the token you’ve there. So, is best you keep it safe all time.

• Posting key:

In steemit, we have different types of interface like Dtube, hive, peakd etc. in cases like this, we use posting key rather than using our master keys to avoid it from been compromised. With the posting keys, you are limited to only post, comment, edit, vote, resteem, and follow or mute other accounts. Steemit saw it wise enough to place a limitation on the posting key in order to avoid bad people from gaining access to your funds incase it’s stolen.

• Activation key:

Sammy went further by asking his students, if they all know what “steem, sbd and trx” is? They all chorused the “yes” answer.

He further explained to them that, the active key is quite sensitive compared to the “posting key” because our money is involved. With the “active key”, we can transfer our sbd, trx and steem from one steemit wallet to another, move it to an exchange, we can also use it to power up/down, it’s also use to convert steem to sbd and Vice versa and create orders in the market.

• Owner key:

The owners keys is the greatest among the keys here. It performs similar functions of the masters keys and that’s part of the reason it is not displayed on the permissions page. The best way to keep it safe is offline and only use it when you feel your account is been hacked or tampered with by any third party.

• Memo keys:

Whenever we transfer funds on Steemit, we use this key specifically to decrypt and encrypt memos. In order to use the key, make sure you use the pound (#) before placing it.

Sammy:

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Student 1:
by writing it down on a piece of paper and hiding it in a place, where no one can see it…

Student 2:
by logging in with the appropriate access keys and not using your master key/ password to avoid it from getting compromised.

Student 3:
by not sharing it with anyone not even my mum or dad.

Student 4:
by not logging in into a device or computer that is not my own. Even when you are using your personal laptop or phone to login, make sure there is a password on your device.

Student 5:
by updating our antivirus software to avoid malware from reading our passwords from clipboard.

Student 6:
saving our password in a flash drive, CD, DVD and memory card.

Sammy:
beautiful answers!!

Sammy:

Step 1

First start by going to your profile and clicking on your “wallet”

Step 2

• It will take you to this page, were you can see your steem, steem dollar and TRX..

• Go to steem and click on the drop down menu.

• Click on “transfer”.

Step 3:

It will take you to this page, where you’ll fill in the details of who you are sending the steem token to.

• You type the person steemit username

• you fill in the amount

• memo: could be the purpose you’re sending the steem (probably, school fees) or can leave it blank.

• Then click on next

Step 4:

Click on “ok”

Step 5

It will take you to the next page, where it will require you to “sign in” with your Password before it concludes the transaction. We have 3 keys we can use to log in.

Base on our teaching so far, the appropriate key we will use here is “active key”. To help facilitate the transfer the transfer to bossj23.

Sammy:
I hope you all, now have a good idea on how to transfer funds from one Steemit account to another??

Students:
Yes sir.

Sammy:
same principle can also be used for Steem Dollars.

Sammy:
before i end this meeting today, I’ll like one of you to explain to me “how to carry out the power up process in steem”

I have explained to you guys several times, so, I’ll call out “student 1” to show you guys how to do it before we round up for the day!

Student 1:

Step 1

start by going to your profile and clicking on your “wallet”

Step 2

• It will take you to this page, were you can see your steem, steem dollar and TRX..

• Go to steem and click on the drop down menu.

• Click on “power up”.

Step 3

Whatever amount you are powering up should not be greater than your balance because it won’t go through.

Is either, you are clicking your “balance” to fill up the amount or you are filling out the amount with figures lesser than the balance.

Once you are done, you click on “power up”.

Step 4

You sign in with the active key, owners key or master password. Any one of your choice. But it’s preferable you use “active key” because that’s the sole purpose for that function.

Sammy: This is where we close the curtain… see you guys in the next achievement!!! But you all can check out my ACHIEVEMENT-1 HERE

Bye for now…