Add water, cocoa powder, sugar, chocolate chips and salt to instant pot on sauté mode (or stovetop) and stir until chocolate melted.
Add milk, heavy cream, and vanilla and whisk until creamy and thickened slightly. Taste, if you like it sweeter add a couple more tablespoon of sugar.
Place on keep warm mode until ready to serve, and enjoy with mini marshmallows, whipped cream, sprinkles all the good stuff!
Making this stovetop: This can also be made on a stovetop, just use a regular saucepan instead of the Instant Pot. The only thing is you won't have the keep warm mode, but you can gently rewarm on medium low heat.Storing leftovers: Leftover hot chocolate can be stored in the fridge for up to 4 days. You can reheat it by microwaving gently or heating in a small saucepan on medium low heat.Dairy Free Option: Try substituting the milk and heavy cream for any dairy free milks, and using dairy free chocolate chips