Achievement 2 @meeyah Task : Basic Security on Steem

INTRODUCTION

Hi there!!!

Hope you all are doing great, it's been a busy day for me though
As a newbie, i now understand the functions and restrictions of each key and the procedure to transfer steem and power up. However, i'm beginning to enjoy the whole thing about steemit, although it seems difficult at first but its getting clearer to me now.
So my achievement 1 post has been verified and below is the detailed explanation of my achievement 2!!!

Question 1: Have you retrieve all your keys on steemit?

Yes, i have retrieved all and successfully saved all of my keys

Question 2: Do you know each of these key functions and restrictions?

Yes, I do. The keys are carefully explained below.

1. Master password
As the name implies, it is the master of all and all the other keys are derived from the master password, it is also the first password that is created. However, it can be used to change all other keys and can be used to perform any function on steem, ranging from social activities to financial activities.

2. Posting key
Basically, the posting key is used for social networking actions, such as posting, commenting and voting. The posting key has a limited set of permission, therefore, it cannot be used for monetary actions in the sense that one can't lose money if someone else gets access to this key.
Another basic function of the posting key is the fact that it can be used to log in to other steem-powered social networks.
However, the posting key is used to publish a post or comment, edit a post or comment, to upvote or downvote, to resteem content, to follow people and also to mute accounts.

3. Active key
The active key is known to be a major key that has additional permissions for more sensitive monetary-related actions, such as transferring and exchanging tokens. It Is hereby certain that the active key has to be authenticated when performing a wallet related action.
The active key should however be confidential because anyone with the key can take away the tokens in that account.
Finally, the active key can be used to transfer tokens and power STEEM up or down, it can also be used to initiate SBD conversation and to vote for witnesses, to place an order on an exchange, to change profile, to create a new user and to publish a witness price feed.

4. Owner key
The most important of all the keys is the owner key, it has additional permissions to recover an account and change the other 4 keys.
The owner key is being used to reset owner, active and posting keys, also to recover an account and decline voting rights.

5. Memo key
The memo key has to do with the encryption and decryption of private messages that are sent through the block chain, however, it is not commonly used.
The basic function of memo key is to send and view an encrypted message.

6. Public keys
This key is associated with usernames and can be used to lock up associated transactions on the blockchain. However, the public keys are not required for log in.

Question 3

How do you plan to keep your master password?
I plan to save and print my master password, thereby having a soft copy and also a hard copy.

Question 4

Do you know how to transfer steem token to another steem user account?

Yes, i do.
To transfer steem token to another steem user account, the steps are carefully explained below with an image.

Step 1: The first step is to go to my profile and click on wallet.

Step 2: then it brings out my balances, the next thing to do is on click on steem which has different engagements under it, then i click on the first one which is transfer.

Step 3: here, i'm expected to fill in the username of the account i want to transfer to as well as the amount of steem to be transferred.

Step 4: this step is basically for confirmation, all i'm required to do is to click on OK

Step 5: This is the last step on how to transfer a steem to another account,
However, the active or owner key is required to proceed or the master password, then the steem will be transferred successfully.

Question 5

Do you know how to power up your STEEM?

Definitely!!!
The first step is to go to my wallet and click on steem, then i'm required to click on the third option which is power up.

Then, i input the amount of steem to power up.

Next step is for confirmation, all i need to do is to click on OK.

Lastly, i am required to insert my Active or owner key to complete the power up process.