Start by lining your 9x13 inch baking dish with parchment paper. This will help you easily lift the toffee out once it's set.
In a medium saucepan, combine the room temperature unsalted butter, sugar, salt, and vanilla extract. Cook over medium heat, stirring constantly until the mixture reaches a boil. Allow it to boil for about 5-7 minutes, continuing to stir until it turns a golden amber color.
Once the toffee has reached the desired color, immediately pour it into the prepared baking dish. Use a spatula to spread it evenly. Be careful, as the mixture will be extremely hot!
Let the toffee cool completely in the baking dish at room temperature. This usually takes about 1-2 hours.
While the toffee cools, melt the white melting wafers or candy chocolate in a microwave-safe bowl. Heat in 30-second intervals, stirring between each until completely smooth.
Once the toffee is set and cooled, lift it out of the baking dish using the parchment paper. Cut it into squares or rectangles. Dip each piece into the melted white chocolate, allowing the excess to drip off.
In a small bowl, combine the granulated sugar and ground cinnamon. After coating the toffee in white chocolate, roll each piece in the cinnamon sugar mixture until evenly coated.
Place the coated toffee pieces on a wire rack or a parchment-lined baking sheet to let the chocolate set. This should take about 30 minutes.