Select the top polygon and remove it by pressing Delete.

Next, go into Vertex mode by pressing 1 and select all vertices in the Front View except the bottom row.

Still in the Front View, scale the selection vertically (the Y axis) so you can get both a taller section at the bottom and a square shape to your future holes.

Now select only the top row of vertices and move it further away on the Y axis.

Switch back to Poly mode (press 4) and select all polygons to become the holes in your bin.

Click on the small box by the Inset button to bring up the Inset dialog, choose Inset By Polygon, enter a small amount (we used 0.2, but you can go even lower) and hit Ok.

With the Polygons still selected, hit Delete to remove them. Next add a Shell modifier with an Outer Amount of 0.5.

To give your bin a conic shape, you can add a Taper modifier.

Finally, you can also add a Twist modifier if you want a more fancy look. There, done!