Cut the Velvetta into squares and place in a medium saucepan. Then drain the liquid from your Rotel tomatoes and add to the cheese cubes. Heat over medium heat.
Stir frequently until the cheese is completely melted and both ingredients are very well combined.
Spoon your Queso or nacho cheese dip into a warmed small cast iron skillet or casserole dish and serve with tortilla chips. Note: This Queso can also be placed in a mini slow cooker or mini crockpot to keep it warm longer.
Note: if you want a thinner texture to the dip, do not drain the Rotel.