Achievement 2 II by @sarakhan123
AOA everyone! I Pray to Allah for the good health and happy life of all. As it is the rule of the steemit platform to complete some achievements before writing any other content so I am here with my achievement 2.
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Basic Security of steemit
When you create an account on steemit platform, you are given a PDF file of some keys. In achievement two, you are required to give a brief detail of your understanding about these keys.
Posting key
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This key is used to post your content on this platform. Moreover, using posting key, you can upvote, downvote, comment and resteem the others posts. You can also follow the steemians by using the posting key.
Active key
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Next key is active key. When you are upvoted by the higher steemit authorities, you get the reward in form of SBD. This currency is first converted in Steem and then you can place an order for conversion of steem into your local currency. The active key is use for SBD conversion, to power up or power down your SP and to transfer the tokens.
Owner key
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Owner key is the most essential key as it can be used to change the other keys such as active or posting key. In case of hacking your password, the owner key can be used to reclaim for that.
Memo key
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The memo keys are used to encrypt and decrypt the massages. This key is used when you want to transfer your assets to any other account.
Master Key
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While creating account, there is a phase when you are asked to copy the master password. After copying and pasting it in next step, you are given the other keys' PDF. So Master key is the most important as you get the other keys with help of this
The steemit is decentralized platform. It means that the more authority is given to user. HE is responsible for all the ups and down of his account. In case of losing password, he cannot ask the higher authority for recovery of that. So you need to keep the backup of all the above mentioned keys so that in case of losing any, you can recover it. If you don't take backup, then you will lose your keys forever.
How to transfer the Steem to another's account
Steem is the currency which work on steemit platform. You get the reward in SBD. The SBDs are then converted into steem. The user then need to transfer the steem to the exchangers who will exchnage his steem into local currency. It is quite easy to send the steem to any other account. A few steps are there.
First login to your steemit wallet using your active key.
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A new page will be open.png)
Click on the small arrow with the Steem Button. A drop down list will be appear.Select Transfer from that list
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Enter the User ID to whom you want to transfer the steems.
Enter amount you want to transfer.
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Click on the NExt button. You will be asked to confirm your operation. Click Ok and yeah! operation is completed successfully.
How to Covert Steem Dollar into Steem
Login to your steemit wallet account using your username and active key.
Click on the arrow with the SBD Dollar button.
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A drop down list will be appeared
Select Market
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A new page will be appeared
Enter the SBD you want to convert into steem.
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Click on the Buy Steem button. You will be asked to confirm your operation. Click Ok and yeah! operation is completed successfully.
How to transfer the Steem Dollars to another's account
It is quite similar as transffering the steem. First of all you need to login to your steem wallet. Use the active key to login.
Click on the small arrow appeared with the SBD Dollar button.
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A drop down list will be appeared.
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Select Transfer from that list
Enter the User ID to whom you want to transfer the SBD.
Enter amount you want to transfer.
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Click on the NExt button. You will be asked to confirm your operation. Click Ok and yeah! operation is completed successfully.
How to powerup
The steem power can be up by using the steems you have in your account.
First login to your Steem wallet using active key.
Click on the small arrow appeared with the Steem button.
A drop down list will be appeared.
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Select Power up from that list
Enter the Steem which want to convert into Steem power.
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Click on the NExt button. You will be asked to confirm your operation. Click Ok and yeah! operation is completed successfully. The steem you have used to power up your SP, will be deducted from the steem. It will added into your SP.
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Note: I suggest you all to keep the backup of your keys because if you lost this file once, you will lost that forever.
Many Thanks to @steemcurator01, steemcurator02, steemcurator07, @cryptokannon
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