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RE: Upvoting For the Mutual Benefit of Patrons, Commentors, and Others While Promoting More Engagement
You are very welcome!
Let me know if you have any questions. I always try to help out those in the SteemIt community for the betterment of the community.
Have a great day!
Steem on,
Mike
Okay please there is an aspect a lot of steemians on here always miss, please can you explain what the savings in the wallet is about? Thanks
Think of it as putting your STEEM Power (SP) or STEEM Based Dollars (SBD) into a bank vault. It simply puts your SP and SBD in a safer place.
Currently you can transfer your SP and SBD instantaneously. And Power Down your SP over 13 weeks.
When you put SP and SBD into Savings (your vault) it delays the transfer. It take 3 days to transfer the SP and SBD out of Savings.
So if a robber (or hacker) is able to take over your account (this is extremely rare but can happen), your Savings is more secure because hopefully you would notice the take over and the initiation of a Savings transfer. It gives you enough time to alert SteemIt support.
The take over of an account is extremely rare when you keep your password secure. And do not change your password to something simple like "password".
I hope that explains it.
Here is a SteemIt post on the "Savings" feature:
https://steemit.com/steemit/@shenanigator/the-real-reason-for-steem-savings-accounts-for-beginners
Have a great day!
Steem on,
Mike