Bees wax is too flexible/soft, paraffin with 5% beeswax is better, but for actual blanks only not logs. For logs, the best is Log Sealer, but if you can't get that use PVA glue.
Normal paint is next to useless as it doesn't stick to wet/green wood and usually too brittle so soon cracks. A rubberised paint can be used as a last resort, as it is more flexible, but generally has trouble sticking and bubbles allowing mould to grow underneath.