It became popular as it’s come useful also when traditionals and famous antiviruses aren’t so effective, for example against ransomware (which restricts access to the computer system that it infects, and demands a ransom paid to the creator of the malware in order for the restriction to be removed) or viruses like fake antiviruses that performs fake scan and find fake infected files.
The software naturally is very good also with other types of malware like trojans, spyware, adaware and rootkits.
Once running you can perform 3 types of scan: quick scan, full scan, flash scan
A useful addon is Chameleon, it allows to get Malwarebytes Anti-Malware installed and running when blocked by malicious programs.
The free version of Malwarebytes Anti-Malware is enough for a basic protection, the Pro version (it’s also available for 14 days trial) has more features like real time active malware prevention engine, heuristic protection, malicious website protection, automatic priority updates and scheduled scanning, blazing Fast Flash scans.
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