Liquid and paste waxes have many pros and cons.
Liquid waxes have a lower melting and boiling point which makes their life shorter than most paste waxes. But liquid waxes are easier to apply than paste because they are in liquid form and have lubricating polymers/agents present in them which make application and removal an easy and quick job. You can apply them not only by hand but by machine too. Its also easier to apply a thin layer of wax because you can spread the wax on the applicator pad and remove any excess. The main purpose for applying wax is transferring protection from the wax to the paint surface; what you remove is the wax residue left behind. In hot climates liquid waxes can have a shorter life because the surrounding heat causes the layer of protection to be weak because the wax dries quickly, giving less bonding time to the wax. Liquid carnauba waxes are good as last step.
Paste waxes have higher melting and boiling point which makes their life longer than liquid. This type may be a challenge to use especially if you're doing the whole car at one time. The applicator pad is rubbed a couple times on the paste to lift it and then applied to the paint. Pastes do last longer than liquids. It?s a bit harder to have an even thin coat with paste waxes but its possible. Paste waxes take longer time to dry but i think that?s good because more protection will be transferred. They are also harder to remove and you may need the help of a detailer spray to easily buff it out. This type should be used as first or second layer depending on type of wax.
Overall, I would prefer paste for longer protection but a paste + liquid combo is not bad.