It’s been just a couple of weeks and I’ve already found steem as a good hobby. So here’s my second achievement in the community.

Retrieved all the keys?

Indeed I did and securely placed in several places.

Functions and restrictions of each key

There are set of keys and each key is used for unique reason.

Posting key

The posting key is used for social networking activities like posting articles and commenting. And this key can be used to login to steemit and other related networks.

Active key

This key is used for steem, steem dollars and steam power transactions. I’ve used this key to transfer steem to other accounts and if this key is tracked by any other party, they can get our all the assets.

Owner key

The owner key can be used to recover the steemit account or change the other keys. Ideally it should be stored in offline access.

Memo key

Memo key is a hardly used key currently as it is used for encrypting and decrypt the messages sent through the blockchain.

How do I Keep the master password

I have it on a separate document in my laptop and a copy in internet space as well. It is a very important key as if I lose it I won’t be able to recover my account and I’m fully aware of it.

How to transfer steem token from my account to another user

I have already done that once and first you go to wallet and select the Transfer in the drop-down menu.

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And filling the rest and using the active key or master key, the transfer can happen.

Power up Steem

Powerup steem means you can transfer your steem to steem power and vise versa means power down. To do that, select power up option from the drop-down menu in steem section of the wallet and enter the relevant amount.