Waterproof coatings do just that, they coat the concrete with a surface film and prevent liquids and other things from getting to or at the surface of the concrete. While waterproof coatings are strong and will protect the surface, they can’t and don’t protect the concrete below the surface. Once water becomes present within or below the concrete, the waterproof coating will start to bubble, peel, or flake. For the best protection you want to apply a penetrating concrete sealer then apply a coating to the surface.
Popular concrete sealers: Foundation Armor