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In a double boiler, combine butter, heavy whipping cream, spices (reserving 1 tablespoon of cilantro to sprinkle on top of the queso dip before serving), and water and bring to a slow boil then reduce heat to low.
Slowly add cheese one handful at a time stirring with a whisk each time before adding more. Continue adding the cheese a little bit at a time while stirring continuously until all the cheese is added. I have found that using a whisk helps to incorporate the cheeses.
Add the drained green chilis to the keto queso and stir to combine.
Garnish the top with the remaining tablespoon of cilantro before serving. Serve immediately or pour queso dip into a small crock pot to keep warm.