I shave my genitals as well; that is other than the pubic hair. It does increase sensitivity with tactile stimulation.
I did some research and disovered that there is no hair removal cream that is safe for men to use in the genital area. The warning labels on these products contain that caution.
Norelco sells a man's "body groomer" with models starting at about $32. It's cordless and ergonomically shaped with two trimmers on each side (and a foil shaver in between) specifically designed to remove body hair from men. But although the trimmers are small toothed a lot of care is needed when shaving genitals. The skin on the penis shaft and Scrotum is very thin and will nick if the shaver runs across a skin fold. But the trimmers cut the hairs very close to the skin and it is faster than a razor. Look up the Norelco Body Groomer on Amazon under the catagory of "all produts" and read the dozens of testimonials for yourself.
Personally, I use the body groomer and then a safety razor for special occasions. The razor method is the only way to get a perfectly close shave.
The danger in either of these methods is infection. A nick is an open wound that takes as much time to heal as a nick on your finger. I don't shave (with either method) if I plan to have sex within twenty-four hours. And before shaving I take a shower, disinfect the groomer head and razor with alcohol (and the can of shaving cream) and rub my hands and genital area with antimicrobial hand sanitizer. Even though you don't bleed while shaving you can tell how much skin has been cut off by rubbing your balls with alcohol after you finish. It's not as bad as having BenGay rubbed on your nuts but the initial sting of the alcohol is about the same and it tells you how many wounds you have but can't see. And it's a good idea to rub yourself afterward with a cream based after shave or hand cream to protect the shaved skin. It dries out quickly.
I do not shave my groin with the same razor I use on my face. I keep it separate and change blades every two or three shaves. My fear of infection is not unjustified. I once had epidetimitis so bad I could barely walk. And even a blow job can transmit a bacterial infection to a penis with open wounds no matter how small.
I know that some guys get waxed but I don't see the value in it unless the procedure results in some kind of pain/pleasure thing.
Good luck.