Steemit Security & Wallet FAQ

Q1: How to retrieve all the keys you need on Steemit?

You'll receive a unique set of keys you need for operating on Steemit upon registering for the first time. During the sign-up process, your key set will be generated and presented to you in a handy .pdf file that will look like the screenshot below.
It is of utmost importance to keep this set of keys in a safe place, as they are the only way to restore your wallet and account in case you lose the device you use to access the Steem ecosystem. As your data lies encrypted on the blockchain, only your own set of passwords can decrypt your data, as no one else in the world possesses this unique set of keys you do.

Screenshot by author

Q2: What are the individual keys for?

As each key is more vulnerable to being stolen or compromised the more often/on more devices it is used, Steem uses a hierarchical set of keys which each unlocks a broader set of functions and permissions to alter the account. Please see the below list to get a grasp of each key's power:

• Posting Key - The posting key unlocks basic operations like commenting, upvoting, and publishing posts. As it is the most restricted set of permissions, this key should be used for daily log-ins and to read/write content on Steem.

• Active Key - The active key unlocks a set of permissions regarding your Steem wallet. You'll need this key if you want to transfer or withdraw funds.

• Owner Key - The owner key is the most powerful key, as it is used to restore/change each of the other keys, including the owner key. In case you lost the device you use to log in to Steemit, you can use the owner key to retrieve your wallet and account on another device.

• Memo key - Your personal key is used to encrypt/decrypt memos. You can add a memo when sending funds to another user, which are usually visible for the whole blockchain unless you encrypt it with your memo key. Do so by placing a hashtag # before your memo.

Q3: How to keep the (owner) key safe?

It is a good practice among the blockchain community to only keep a hard copy of your keys in a secure space, e.g., like having a print-out of your generated keys in a deposit box. As it raises the question of what will happen in case your home gets compromised, like in a robbery or natural disaster, you can also keep another copy with a family member or close friend you really trust. Another, although expensive option would be a bank safe to keep a set of your keys.

Q4: Basic Wallet operations - How to transfer STEEM to another user?

Log onto your Steem wallet and hit the little dropdown menu right next to your STEEM balance:

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Now, hit the option "Transfer" and type in the user name you want to transfer your funds to:

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Q5: Basic Wallet operations - How to power up and increase your STEEM POWER (SP)?

Powering up your STEEM and converting it to STEEM POWER will help you increase your influence on this platform. Not only will your votes have more power and mean higher rewards the more SP you possess, you'll also earn a small amount of interest on your held SP.
Just hit the small dropdown menu right next to your STEEM balance and hit "Power Up:"

Screenshot by author

Alright, that's it for now regarding Steem security and basic wallet operations. Feel free to share this post with anyone interested and ask questions in the comments!

Cheers,
tango-mike

Please find the first achievement "Introducing @tango-mike" via this link.