I've heard it's blockchain runs in a very different manner than others and is quite untraceable. Is it any good though, and is it acceptable for trading?
I think it might be. Same as btc but with a lot of the disadvantages solved. Authorities hate it even more than other crypto though because it is virtually untraceable.
For what would you like to use it? It all depends on why you would want to have Monero? For the long term? Making untraceable transactions? I personally like Monero but to be untraceable I prefer Pirate Chain. As for the long-term potential of Monero I certainly believe in the project.