The best way to compost food waste is to mix it with dry leaves, sticks and twigs, wood chips, sawdust, dried/dead plants, shredded newspaper, or paper from a home shredder, and mixed yard waste. Always cover fresh material with a layer of wood chips and a dusting of dirt, or with unscreened, mature compost. A compost pile in your backyard will have lots of microbes taking up residence. Keep in mind that the microbes need oxygen, water, and food; the same things we need to survive. If the pile gets too wet or dense with food scraps, it will smell bad and composting will slow down or stop altogether.
The system is cheap and flexible. It is ordinary wire garden fencing made into temporary bins. (For people of average height, about 4 feet high works well.) In the fall the bins can be expanded to hold fallen leaves, and as the new growing season begins, the fencing is wrapped more tightly into smaller bins. They are not anchored and the bins can even be rolled up tightly for storage. The compost can be turned frequently (a compost pitchfork is best) and the area can be raked in between uses.