You will find as many opinions on this subject as there are people. There is no significant difference in the teas as far as I can tell by reading on this site and many others. There are many people that will argue both sides of that statement. It takes less time to make aerated tea. The material you use is the same for both. You can us VC or thermal compost, again according to who you read on the net. Non aerated tea takes from a couple to several days from what I have read.

In the search engine at the top right of this site type in "tea, or worm tea, or compost tea" and you will get a multitude of articles talking about making and using teas. You will need to scroll down until you find articles that address this subject. good luck

Agree with billr2.

They are used the same way, as soil drenches, foliar sprays etc. The same compost or worm poop can be used.

Beyond that there are a lot of opinions and the science on the subject generally does not support the more 'passionate' opinions, so you need to try things out and do what seems to work for you.