Renaisance wax

[sdmark777]

Forgive my ignorance. I have never waxed any firearms. I have always just wiped them down with an oily cloth every so often (6 months to a year at least).
So am I to understand some of you coat your Lugers with renaissance wax and then don't oil them for years?
Do you ever take the wax off? If so how or do you just reapply wax every few years?
New idea to me. Thanks for educating me. Mark