Bug bounty policies are an important technique in modern cybersecurity practices. This is because these practices incentivize people called white-hat hackers which are ethical hackers who try to identify vulnerabilities for companies and their main purpose is to help advance cybersecurity. Also, it was found that companies that use bug bounty programs actually find vulnerabilities faster and more frequently compared to the companies that rely on their own employees/in-house teams. Also, bug bounty programs are cost effective and are a good solution to address cybersecurity vulnerabilities. By using the ethical hackers that are available to them all over the world can identify vulnerabilities more efficiently and at a cheaper cost than traditional methods.