where i can received this token ? do I need to install every wallet client for each coin in order to receive the token?
if the altcoin is not yet released (like the new ones) then you have to wait until there is a wallet then install it and then sync (by downloading its blockchain) and receive your payment.
or if it is a released altcoin already available on an exchange you can go there and make an address and receive your payment.
for more information ask your signature manager or ask the coin developers.
after that what I can do with this token? sell or hold them!
this is an speculation matter. so it is up to your own judgment to hold or sell that coin when you receive it.
what is wisdom way to handle them? your suggestions highly appreciated.
see if there is any future to that coin and see if there is a pump on the way or not, then wait for the pump and sell and if you didn't see it just dump as soon as you get it.
again it is up to your judgment. it is all speculation.