Buying and holding bitcoin is a good way to make money out of bitcoins. To be able to buy and hold bitcoin, you first need to obtain a bitcoin wallet. A bitcoin wallet is used to send, receive and store bitcoins. You can obtain one from an online based service such as Coinbase or Blockchain.info. These are two of the most used bitcoin wallets and they come with an online and a mobile version. Having said that, the safest way to store your bitcoins would be offline.
Once you have a wallet service, you can establish multiple bitcoin addresses which allow you to receive bitcoins from others. No real life addresses are necessary, just your bitcoin address will suffice for any digital currency transfers. All transaction can then be viewed on the blockchain. You can buy and hold bitcoin in your wallet pending when the price increases for you to cash in. This business is mostly done in the long term.