The species was first described in 1774 by the German mycologist and naturalist Jacob Christian Schäffer as Agaricus pratensis.

[9] Hygrophorus nemoreus is an ectomycorrhizal species, growing in woodland with oaks, and has a distinctly mealy smell.

[12] In Europe, Cuphophyllus pratensis is typical of waxcap grasslands, a declining habitat due to changing agricultural practices.

Though the species is one of the commoner members of the genus, it nonetheless appears on the official or provisional national red lists of threatened fungi in a few European countries, including the Czech Republic,[13] Germany (Bavaria),[14] and Poland.

[15] Fruit bodies of the meadow waxcap are edible[8][16] and in some countries are seasonally collected for commercial sale in local markets.