There is no correct way.

It is a tradoff.

Oil works great, actually the manual suggests using 80 weight gear oil or something like that. I don’t use gear oil, because it makes a mess. I will spray WD40 on a rag then wipe off the chain. If you saturate the chain with WD40 I guarantee that after the first ride your whole bike will be lubed.

My steel sprockets and DID X ring chain last about 15,000 miles about 2 sets of tires. I sometimes wipe the chain down with some solvent and a rag. I lube the chain with Wax.

 

i blow it out with an air hose, clean it with wd40, wipe it clean, let it dry, then apply the chain wax. i do this after riding to let the wax set up before riding and it flings all over the bike.

 

Yeah i spray a rag or similar and wipe it down that way, then you don`t get to much left on to be flung off when you ride.