steam is nothing but hot air!!!
Actually steam is vaporized water and not hot air. Looking at it from a thermodnynamic point of view there is a huge difference. Hot air could not be used to generate huge amounts of power like water is.
After installing steam you have to register the key with steam, you can do so by opening the library an left-clicking on "add a game" in the lower leftern corner. In the dropdown menu select "activate a product on steam", the menus will lead you through the rest. Of course you'll need your key for this, using copy + paste from the email or the stardock page should work.