Achievement 2: Basic Security on Steem

Helo newbies. How are you doing out there. You are welcome to this second series. In our previous article, we learned how to power up our steem, transfer or power down, opening our wallet.

Now in this series, we are going to learn about the Basic Security on Steem which is Achievement 2. Your objectives are:

1. Newcomers have the knowledge on basic Security on Teem such as how their master password works and can differentiate the use of their account; namely - posting keys, active keys, private owner key and memo key.

If I may ask this question, what would you say? Please personalise your answer.

How can I keep my Steem account secured?

One may rightly aswer by saying; you save your master password and keep it somewhere safe.

Only log into your account using the key with appropriate permission with what you are doing.

Posting key is everyday login.
Active key when necessary for transfers, power ups, etc.

Master password or owner key when changing the password.

More importantly, save your master password and keep it safe! If you are logging in with your post key , make sure you don't overwrite or misplace your original Master password.

Note that, it is recommended not to share your password or keys with any third party site. Steemit Inc. is developing a login application that can be used on third party Steem font ends.

Why should I be careful with my Master Password?

The Master password is used to derive all keys for your account, including the owner key. If someone have access to your master key password, they can steal your account and all of the tokens in it.

What are my different keys for?

a. Posting key
b. Active key
c. Ownere key
d. Master key

Posting keys

One uses the posting keys for everyday logins, to make comments, post messages, edit, vote, resteem, follow or mute other accounts.

Active key

The active key is meant for more sensitive task such as transferring funds, power up/down transactions, converting steem Dollars, voting for witnesses, updating profile details and avatar, and placing a market order.

Owner key

One uses the owner key when it is necessary. It is the most powerful key because it can change any key of an account, including the owner key. Basically, it is meant to be stored offline and only use to recover compromised account.

Memo Key

This key is specially used for encrypting and decrypting memos when transferring funds. Inorder to encrypt a memo, use the pound/# sign before it.

What do I do if I lose my password/keys?

Once your password is lost is gone. It can not be recovered or retrieved again. It is very important that you save your master password
somewhere safe where you will not lose it because your account has real value
It is sreo fly recommended that you store an offline copy of your password somewhere safe in case of a hard drive failure or other calamities

Consider digital offline storage, such as an external disk or flash drive, as well as printed papers. Use a safe deposit box for best redundancy.

What is the difference between Master password key and owner key?

Remarkably, there is a great different between the two.
Master password is used to generate all the keys including the owner key. The only reason you should really be using your master password is when you are going through the account recovery, in which case you should be referring from your safe storage.

The master password is the password you get upon signing up. You should then take that password, go to Steemit.com wallet, retrieve all the other keys and only use those keys going forward.

Pay more than usual attention that after reading and understanding this article, your task for Achievement 2 is making a post with a title Achievement: 2 @youraccountname Task: Basic Security on Steem.

Assignments:

A. Now write a post base on this assignment.
B.

1. Have you retrieved all your keys on
   Steemit?
   Ans: Yes

2. Do you know each of these keys
   functions and their restrictions?
   Ans: Yes

3. How do you keep your master
   password?

Ans: I copied it out offline, saved it in my private diary so that nobody can see it.

1. Do you know how to transfer your Steem token to another steem user account?

Ans: Yes

1. Do you know how to power up your Steem?
   Ans: Yes

Please be creative as possible as you can, no plagiarism as this will be yardstick for reading your post.

Don't forget that our main focus in this series is understanding the different keys.

Looking forward to raeding your post on Achievement 2.

Truly yours
@joykal01

Thanks for your undivided attention going through my article.