Yes it is bad to wax your nose hair because you could hurt the skin deep inside your nose which can then lead to infection.
Your skin in your nose is more sensitive than other skin so it's easy to tear or injure the skin in your nose which can lead to bleeding and infection.
Plucking nose hairs can also be bad and cause infection and it's much worse to pluck your nose hairs than it is to wax your nose hairs.
Waxing your nose hairs is much better than plucking your nose hairs but it's still not recommended.
It's best to just trim your nose hairs using a nose hair trimmer instead of risking infection and bleeding from waxing it or plucking it.