i waxed the ends of my cuttings. Do i remove the wax before i root them in coco coir, ?

I don't think you need to. Roots and buds are powerful enough to push through the wax.

I ALWAYS cut a fresh cut at bottom of cutting.
I leave 3/8" to 1/2" below last node but no more.
The extra left below last node seems to promotes rot.
Just my experiences.

Doug

What purpose does the paraffin serve?

I dip cuttings in wax when they are freshly cut so that they don't lose moisture, especially if being shipped. If you are shipping long term you can wrap in cellophane plastic wrap after reading for an added protection. When rooting in dirt I recut the end 1/4 inch below the lowest node horizontally and make a 1" angle but on the back side of node (not on node) to promote root growth. Everything cut gets dipped in hormone.