As you all know, Elon musk’s SpaceX is trying is colonize mars, and it’s a traditional method of colonizing any species on any planet, but there are a few methods for colonizing species on another planet.
And this what a Space colony is about, In theory, a Space colony is something like a space station, They are floating in the vacuum of space.
But the only difference is between the space station and space colony is, A space colony is intended as a permanent settlement or green habitat rather than as a simple station.
Space colony
The richest man in the world Jeff Bezos says Mars is not a place humans would be comfortable living.
In other words, making an inhabitable planet into a habitable is very hard and long work, His ambition to build floating space colonies where people could in orbit, saying that the colonies would have excellent climates, with weather like “Maui on its best day, all year long.”
This is not a new idea, Fiction of space colony goes back to the second half of the 19th century. “The Brick Moon”, a fictional story written in 1869 by Edward Everett Hale, is perhaps the first treatment of this idea in writing.
In 1903, space pioneer Konstantin Tsiolkovsky speculated about rotating cylindrical space colonies, with plants fed by the sun, in Beyond Planet Earth. And there are many more people who write and discuss this idea.
Advantages
As with any other idea, this idea also had some advantages, some real serious advantages.
Artificial Gravity

If we ever colonize any other planet smaller or bigger planet then eath then we will feel different gravity, but things not gonna look the same in space colonies. Unlike colonies on any other planet, space colonies are going to be human-made artificial habitats floating in the vacuum of space, which means we have much more control over an artificial habitat than a celestial object.
Artificial Gravity is not something from science fiction, it’s a simple way to generate gravity-like force, Imagine the wheel-shaped ships from films like 2001: A Space Odyssey and The Martian, imaginary craft that generates their own gravity by spinning around in space.
Protaction From Natiral Disater
It’s not completely safe from an asteroid, but at least it will protect inhabitants from any natural disaster.
Atmosphere

As you already know throughout the article, it’s an artificial habitat floating in space, which means humans can manually control the atmosphere that suits humans, which means humans living on space colonies will be much healthier than humans living on any planet.