I have been worm composting for about 3 years.
I bought one bag at the farmers market, dumped them in a bucket with some dirt in it, and started putting in food scraps, and covered it with a piece of wood. I throw anything edible in (although I am vegetarian, so idk about meat) with absolutely no thought to whether it is organic, or acidic, or processed, or anything. Any food scraps, and anything that has gone bad, goes in the bin.
In order to avoid smell or critters, I always dig a hole in the dirt, and bury the new food a few inches down, the put the "lid" back on.
If it does start to smell, that would mean it is getting aerobic; the solution is to stir it up thoroughly ever now and then, not let it get to wet (drain holes at the bottom help, and if you can collect what drips out, it is GREAT liquid fertilizer) and maybe adding some dry mulch like material, like dry leaves or shredded newspaper.
After 6-12 months, I sift out all the worms and remaining food scraps, put the dirt/compost in a new bucket to finish, and start over. In a couple more months the old bucket is ready for adding to the garden.
Some people (like my girlfriend) prefer to micro-manage the worms moisture levels and what goes into the bin, but I haven't found it to make much difference.
I do notice that the worms REALLY love avocado rinds.