My questions:
Is it still possible to make profit owning the coin?
What is the lowest risk method of owning the coin?
Crypto currencies are high risk investments. Invest only what you can afford to lose.
The lowest risk method? Hm, just buy and hold for at least a year (it's a long-term investment, not a few weeks pump-n-dump kind of coin). If you intend to sell in a few weeks, don't bother, you will lose money guaranteed.
Bter.com is the best place to buy for newbies. Download official wallet, create an account with a long random pass phrase and withdraw from bter.com to your wallet.