It´s a good conservation. For renewing, or shoe waterproofing, to dilute it in gasoline until no more wax dilutes works fine. Aply with brush or soaked rag, let dry, rub with rag to close possible thinner "pits" or bubbles from evaporating gas.
Possible to use on any ammo (center fire) you need in your pocket in humid conditions.
Also you can thin a bit the beewax with gasoline to make it soft in your normal temperatures. Put on a cap, roll a thin string from thinned beewax, roll around cap and piston, squeeze together, let dry. You can go through rain, snow, drop your gun into stream. Just shake the water out of the bore and it will go off-at least if you use lubed patches or put some lube atop of bullet on loading.
Gasoline is better for some uses than turpentine, since the turpentine contains a bit of silicias and resins, which may not be always welcome.