wastebin vs dustbin

wastebin and dustbin both are nouns.

Word	Noun	Adjective	Verb	Adverb
wastebin	Yes	No	No	No
dustbin	Yes	No	No	No

As nouns, wastebin and dustbin are synonyms defined as:

Other synonyms of wastebin include ash-bin, ash bin, ashbin, ashcan, garbage can, trash barrel, trash bin, trash can.

wastebin (noun)	dustbin (noun)
a bin that holds rubbish until it is collected	a bin that holds rubbish until it is collected