Cream together the butter and peanut butter until smooth.

Gradually add powdered sugar, mixing thoroughly after each addition until well combined.

Roll the peanut butter mixture into small balls, approximately 1 inch in diameter.

Insert a toothpick into the center of each peanut butter ball.

In a microwave-safe bowl or heavy saucepan, melt chocolate chips and paraffin wax together.

Stir the chocolate and wax mixture until smooth and fully combined.

If using a microwave, heat in short intervals, stirring in between, to prevent burning.

If using a stovetop, melt over low heat, stirring constantly to prevent burning.

Dip each peanut butter ball into the melted chocolate mixture, ensuring it is fully coated.

Place the chocolate-covered peanut butter balls on a sheet of wax paper to dry.

Refrigerate the candy until the chocolate is set and firm.