The difference between Dustbin and Wastebin
When used as nouns, dustbin means a bin for holding rubbish until it can be collected, whereas wastebin means a wastebasket.
check bellow for the other definitions of Dustbin and Wastebin
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Dustbin as a noun (British):
A bin for holding rubbish until it can be collected; a garbage can.
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Wastebin as a noun:
A wastebasket; a bin used for household or office waste.