I personally do the bucket system. I have three large buckets. Two of the buckets have holes drilled into their bases. I stack them on top of one another, starting with the non-hole-y bucket at the bottom. I partly fill each bucket with compost (mostly greens) and soil, but the top bucket is where I put the freshest, yummiest organic materials (such as fruits, veggies, coffee grounds, etc.) and I mix it all up with the soil and worms, placing greens on top before covering that last, top bucket with a hole-drilled lid. Every day, I fill the top bucket with more veggies and fruit (I don't give them coffee grounds every day). I have 200+ red worms right now and I keep them in the laundry room, which is always roughly 73+ degrees throughout the day, which is very conducive to reproduction. The reasoning behind the bucket system is all about the drilled holes. Instead of having to separate the worms from the soil when you finally have enough to use, you simply stop putting food in the top bucket. It's easy to lift up the top bucket and put fresher food beneath it in the middle bucket (or bottom bucket if you choose to only use two). Once the worms realize that there is no more food in the top bucket, they head south toward the smells of the food below and voila! Your top bucket is emptied of worms but all the soil is there for your use! Then, if you choose a 3-bucket system like me, you can just repeat the process. I'm loving this bucket system... It's really easy and allows me to be lazy.
Whether you choose my method or not, I hope you find something that works successfully for you!