der Papierkorb
wastepaper basket
A container used to collect waste, especially paper.
Wirf das zerknüllte Blatt bitte in den Papierkorb.
Please throw the crumpled sheet of paper into the wastepaper basket.

wastepaper basket / trash
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wastepaper basket
A container used to collect waste, especially paper.
Wirf das zerknüllte Blatt bitte in den Papierkorb.
Please throw the crumpled sheet of paper into the wastepaper basket.

This word is made up of 'Papier' (paper) and 'Korb' (basket). So it literally means a basket for paper, which makes the meaning very easy to understand.
Der Papierkorb neben dem Schreibtisch ist schon wieder voll.
The wastepaper basket next to the desk is full again already.
The preposition 'in' is used with either the accusative or dative depending on the context. Movement is expressed with 'in den Papierkorb' (into the wastepaper basket/trash; accusative), while a location is expressed with 'im Papierkorb' (in the wastepaper basket/trash; dative).
Ich habe das Dokument aus Versehen in den Papierkorb verschoben.
I accidentally moved the document to the trash.
You can tell from context whether the physical or virtual container is meant. Words like 'Datei' (file), 'klicken' (to click), 'verschieben' (to move), or 'wiederherstellen' (to restore) point to the computer trash/recycle bin.
Du kannst die gelöschten Fotos aus dem Papierkorb wiederherstellen.
You can restore the deleted photos from the trash.
In connection with the physical container, the verbs 'werfen' (to throw), 'leeren' (to empty), or 'ausleeren' (to empty out) are often used.
Kannst du bitte den Papierkorb ausleeren? Er ist ganz voll.
Could you please empty the wastepaper basket? It's completely full.
folder / binder / steward
'der Ordner' and 'der Papierkorb' can both appear on a computer and contain files. An 'Ordner' is a normal storage location where you organize files and find them again. The 'Papierkorb', on the other hand, is a special place for deleted files. The words can be confused because the trash or recycle bin technically also looks like a folder. In practice: you put files you want to keep in an Ordner; files you want to delete go into the Papierkorb.

Die Datei ist noch im Papierkorb, deshalb kann ich sie wiederherstellen.
The file is still in the trash, so I can restore it.
Für die Fotos aus dem Urlaub erstellt Anna einen neuen Ordner auf dem Laptop.
Anna creates a new folder on her laptop for the vacation photos.