In a microwave-safe container (I like to use the same container I’m going to dip into for ease of cleanup), add melting wafers until ¾ full. Choose a container based on the shape of the pretzel. If you are dipping pretzel rods, use a container that is narrow and deep. This will make it easier to cover the length of the pretzel without having to angle the glass or bowl. If you are dipping pretzel twists, use a wide and shallow bowl. This will allow you to scoop the pretzels out more easily.
Follow the instructions on the package to melt the candy coating. Generally, the package will specify to microwave on medium power for 15-30 seconds at a time, stirring thoroughly with a silicone spatula after each interval (even if they still look solid). Please note, that compound chocolate can be overheated and scorched which will result in a seized mixture. When there just a few small pieces left in the bowl, remove it from the microwave and let the residual heat melt the small pieces.
If you find the melted compound chocolate to be too thick, add a small amount (e.g., ½ tsp) of vegetable shortening (e.g., Crisco) or solid vegetable fat (e.g., coconut oil) and stir to combine. Continue adding vegetable shortening until the compound chocolate is thin and glossy. Do not add other fats like butter or liquid vegetable oil because that will make the compound chocolate seize due to the presence of water.