Audit & Bug Bounty (BB)

Bug Bounty program - also known as a vulnerability rewards program (VRP), offers rewards to individuals (security researchers, hackers) for uncovering and reporting software bugs. The public Bug Bounty program has unlimited time and budget and everyone on the platform can participate. Bug bounty can be done for both closed and open-source code.

Audit - is a service that will be done by a specific company auditor for a limited time and money and by limited specialists. Auditing can be done for both closed and open-source code.

Option	Bug Bounty	Audit by company
Limited time	usually no	yes
Limited budget	usually no	yes
Everyone can submit vulnaribility report	yes (and no for private programs)	no
Program owner (client) can pay in native token, stable coins, fiat	yes	no (usually stable coins and fiat)
Only specific company can participate	no	yes
Can be done for both closed and open-source code	yes	yes