1 This is important due to many reasons such as what type of data your blog/website collects from your user like their email address, contact number, locations usage, pin code, their social media profile info for sign-in, or login-in, to show personalized ads, etc.
2 Compulsory for getting approval for Google Adsense or some other ads network. Also, if you using Google Analytics on your Blogger.
3 It helps users to know that the information given by them on your blog/website is safe or not, and where this information uses.
5 If you use third-party services on your blog/website, then you must clarify this on your blog/website. you will tell users whether you sell user’s data to those third-party services or not.
6 For the content policy and it uses such as is your content is available for commercial use or not, etc, etc?
7 If your blog/website uses sales and purchases of products and services then you must add terms related to payments that involve during such terms in detail.
It depends on you what you choose a free service or premium service.
Note: You may discuss this with those who have knowledge of this or if you have any cybersecurity support or lawyer, etc.
Step 1 Go to your Blogger’s dashboard and open the pages section.
You can use: https://www.privacypolicygenerator.info/
Thank you for Reading, Be secure Be safe.