Re: Canceling the 'protected registration' feature
Protected Registration places a stronger lock on the domain. It may sound counter intuitive to place a hoop you must jump thru if you do want to make changes, but that makes it harder for someone to steal your domain if they compromise your account. Also if there is a problem renewing the domain this extends your time to resolve it (a full year instead of what the registry mandates, about 2 weeks for .com).
If you are planning on transferring the domain, or if you don't feel this added protection is needed, it can be canceled following the steps of this article. Note that it still provides the protection before being set-up, if you've yet to do so it would need to be set-up before being canceled.