When you own a home with a basement, its important to assure that the waterproofing protects your investment against water penetration. Two common products which help in this task are waterproofing paint and epoxy. Epoxy is a plastic-like material that has the consistency of honey and dries hard, shiny, and smooth. Several coats of epoxy are often required in order for it to be effective. Waterproofing paint has the consistency of any other paint a homeowner would buy at the paint/hardware store. This makes it easier to apply to surfaces than epoxy. While both products are effective at protecting the inside of a basement from water penetration, outside the home epoxy is not a realistic choice. When waterproofing the outside of your basement walls, you should use waterproofing paint, as it is designed specifically for outside applications. Epoxy is effective at protecting concrete from internal water damage, but offers no added protection beyond that. Waterproofing paint is versatile, acting as a sealant, preventing mold and mildew from forming, and as a deterrent against insect infestation.