Cool!
Some buckets (but maybe only small, cheap ones) have plastic that's thin or brittle, and punching a hole without a lot of support may cause those to crack.
But not when you;'re melting instead of punching! Maybe the cheap Philips screwdriver is the best tool for the job! I found the pliers-and-nails to require more coordination than I had. Now I have a craft wood-burning tool, like a soldering iron but cuter.
