Other than sealing the ends, I wouldn't finish the cedar. The problem with most outdoor finishes is that they need regular maintenance. I've used the Sikkens Cetol finishes on an oak front door. If I didn't do some light sanding and touch-up each year, it would have been a major job the following year to get the finish back in shape. Since a compost bin is most likely exposed completely to the weather with no shelter, I don't believe that there is any point in finishing it at all. Unless you would redo it each year, I assume that, within a couple of years the finish would likely be gone anyway. Plus, it is a composting bin. Usually natural is the thing for that.