Kitchen Compost Pail (Bucket, Bin) - DIY, Easy, and Frugal - DIY Natural
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any bucket will do; temperature is what makes 'compost' .... https://www.forbes.com/sites/rent/2014/04/12/how-to-make-a-compost-pile-in-a-small-apartment/#23ce4e2c30f4
To make holes in plastic containers, I always use a soldering iron outdoors.
If you are going to make compost for a garden, don't bother with a bucket - it's too small. Build a 3 sided barrier with pallets or fencing. Put in your leaves, mown grass, greens from the refrigerator, etc. No meat. Turn everything over once in a while, spray to moisten if it gets very dry. Build a second barrier to start another compost pile when the first gets full. It's cooking. Next year you'll have the best compost from the first pile while adding to the second pile.. Keep rotating the two.
If you just want a bucket for carrying compostables out to the pile, then simply use a sharp knife to cut off the top of the bucket, but leave the handle. My grandmother always had something similar, but used a milk jug.