Hi everyone, hope we are all doing good today. I am glad to be doing my achievement task 2 today which entails proper understanding of the basic security on steem that is the different keys on steem, its functions and their limitations. Also, the use of steem wallet. So lets kick off.

Retriving my keys on steemit

Getting on board for the very first time on this platform, I wondered why the keys were so important until i got to realize that once this key is forgotten especially the master password that entails that my journey in steemit would eventually be cut short. After so much effort, i finally retrieved all my keys and you know what? It is in a very safe place having a very good rest and coming to my aid whenever i need it. Do you know where my safe haven is? That would be my drive. I guess yours might be buried in a safe place like our forefathers do. Whichever way, do keep your master password carefully.

How do I plan to keep my master password.

Like i said before, it is a no better place than my google drive. I think that is the safest place to keep it.

Steem keys: Functions and restrictions

There are four major keys in steemit plus the memo key and i would be discussing them

Image created by me on WPS

Master password

This is used to generate other keys including owner keys. It is used to retrieve other keys and for account recovery.

Owner key

This is used to recover a compromised account. It is the most powerful key because it can change any key of an account.

Active key

Used for transferring funds, converting Steem dollars, power up/down transactions, updating profile details, voting for witnesses.

Posting key

This is your regular key. It is used to post as the name implies, edit, comment, resteem, vote, follow or mute other account.
Finally the memo key which is used for encrypting and decrypting memos when transferring cash.

Using the steem wallet

The steem wallet is divided into 3.

• Steem
• Steem power
• Steen backed dollar (SBD)

All transactions on steem are performed on the steem wallet.

How do I transfer my steem token to another steem user account?

I can do this using my steem or steem dollars.
This two are transferrable unlike the steem power. Both can also be traded on the internal market.
Below are step by step screenshots on how to transfer steem token

Firstly, you click on the downward arrow on your steem amount and then click on transfer.

Next, you put in the steem account you what to transfer to without the @ and the amount, then click next

This step requires you to confirm transfer, then click Ok and you are brought to the step of inputing your active key.

After that, you click on sign in and you are good to go

How do I power up my steem?

I tried this about 2 days ago with ago with the little fund in my steem and it was quite an easy task. You have to click on your steem funds, you would see power up, then you put in the amount you want to power up, confirm your vesting and put in your active or owner key to finish transaction. Then,viola you are set.
Below are screenshots of the various steps

Steem power is locked up and helps your account and influence to grow on steem it. It also allows you to comment and perform transactions. When I think of steem power, I just think of helping the platform and helping myself. Isn't that wonderful?
However, you can still power down after 4 weeks thereby making it liquid again.
We have finally come to the end of the task, this is my basic understanding of steem keys and wallet.
Thanks to all steemians who contributed to this teachings to make me understand this aspect of steemit. I hope to learn much more from various posts.