Basic Security on Steemit

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How are you doing? My first achievement post have been confirmed.
Now I will explain about security in Steemit according to the achievement2.

Importance of Keys and Password:

Password protected accounts are very common and widely used for a variety of online applications including instant messaging, personal and business e-mail, and online banking and retail purchasing accounts. Given the sensitivity of the information within these accounts and the potential for abuse and misuse of this information by others, one might suspect that users would create very secure passwords.

Following Keys are used in Steemit:

1- Master password
The master password is the actual password that you get after Signing up for the Steemit account and that is given by Steemit. Master password is used to generate all the other keys, including owner key.

2- Posting Key : The Posting key allows account to post, comment, edit, vote, resteem and follow or mute other accounts. Most user should be logging into Steemit every day with the posting key.

3- Active Key : The Active key is meant for more sensitive tasks such as transferring funds, power up/down transactions, converting steem dollars, voting for witnesses, updating profile details and avatar and placing a market order.

4- Owner Key : It is the most powerful key because it can change any key of account including owner key. Ideally it is meant to be stored offline and only used to recover a compromised account.

5- Memo Key : This key is used for encrypting and decrypting memos when transferring funds. In order to encrypt a memo, use the pound / # sign before it.

After knowing each of these permission keys, Now It is totally up to you that which key to use for which purpose and also you've to make sure by placing these keys somewhere safe, so you can't lose it and nobody can hack your keys.

Now I'll teach you how to pass steem tokens to another steem account. You had to first go to your profile and then press on Wallet.You went to your wallet, signed in with your active key, and then picked steem dollars from the drop-down menu.Then you clicked on Transfer option!!. A new box appeared on screen.
You first will enter your name. Then the ID of receiver will be mentioned and at last just note down the amount you want to transfer to that specific person from your wallet. Lastly you created a memo, submit and confirm with your active key.

Have you retrieve all your keys on steemit ?
NO, There is no way to recover your account if you lose your master password or owner key! because your account has real value, it is very imortant that you save your master password somewhare safe where you will not lose it. It is strongly recommended that you store an offline copy of your master password.

Special appreciation to @bright-obias and @cryptokannon @belenguerra @tipu @haidermehdi for supporting the newcomers.

Cc: @steemcurator01 , @steemcurator02 , @steemcurator03 , @tarpan , @masoom