Do you bounty hunters get paid in ETH or do you receive the ICO token (which is erc20 in most cases)?
Suppose you receive it in their own token, I assume you cannot do anything with them until they get listed on an exchange, correct?
yes ,and most of bounty campaigns thier participants will recieve thier token and not eth. You cant do anything on that token until its not listed in aby exchanges and the worst that token is a shit tok3n.