Achievement 2 by @ayesha0345 | Basic Security on steemit
Basic security keys
There are 5 keys and each has its own and unique function. The 5 keys are;
- Master key
- Private key
- Owner key
- Memo key
- Active key
Master key
Master key is the most important key and the first one given to the user to derive all the keys for the account. As the key implies *master key*, that key is the master of that account or the one who knows it.
Private key
Private posting key allows the person to post, comment, vote, follow, editing and other few things that we do daily in our account. I usually enter my posting key to enter my account. No one can steal your account if they get access to your posting key.
Owner key
Owner key is the most important key as it has the power to change the other keys. It is used for the recovery of your account. It can change the active key, owner and posting key.
Memo key
Memo key can encrypt and decrypt the private messages sent through the Blockchain. This is not the one to use daily.
Active key
Active key is used to transfer the tokens or exchanging tokens. Whenever you are doing wallet related work, you might enter active key. If someone access your active key, they can also steal your tokens.
How to keep your keys save
After getting your all 5 keys make sure you have saved it somewhere like on Gmail, notes, or somewhere offline just make sure they all are somewhere save and I did the same.
How to transfer my Steem tokens to another account
Following steps are for the transfer of tokens to another account;
step 1
Log in to your account using username and active key password
step 2
Click on the small arrow beside the Steem dollar balance and then select transfer.
step 3
Put the receipt you want to transfer to, amount you want to transfer and confirm it and congratulations your tokens have been transferred.
How to power up my steem
We can transfer this steem power to liquid (steem) in a process called power down which will take 4 weeks may be.
Having more steem power allows you to comment and do other transactions like posting.
*SBD (Steem Backed Dollars)*: The steem backed dollars can be traded for steem or transferred to another account.
Mentioning respected @cryptokannon, @steemcurator01 and @steemcurator02 to get their support.
Thank you for reading 😊💟
Hi, @ayesha0345,
Your post has been supported by @vvarishayy from the Steem Greeter Team.
Well organized post... welcome aboard