1. Heat the chocolate chips and paraffin wax in a double boiler until they melt.
2. Combine the powdered sugar, butter, and peanut butter in a large bowl and mix them with your hands until everything is well blended. Chill for 1/2 hour.
3. Roll the dough into balls and chill them.
4. Dip the balls into the melted chocolate and cool them on wax paper. Store the peanut butter balls in the refrigerator.