Well as it turns out, STEEM doesn't allow us to upload an image for our profile picture or cover photo. But for those that know better, it's a really easy fix.
Simply make a post to store your profile images, and then copy the URL link from the pictures in the post you make to the "Settings" section where you fill in your profile pictures. Here an example:
I want a place to host my profile picture. So I'll upload one right here:
Secondly, I'll need a cover photo, which again, I can add right here:
Once the pictures are added to your post, you can copy the URL from them into your "Settings" tab to fill in your profile and cover photos.
I hope this helps any newcomers who do not have some sort of private photo hosting service to link from.
Have a great day everyone!! <3