As I understand

just buying is the easiest and "safest". Your $100 could be worth $1000 in a year which you could then cash out and spend the way you want.

With cloud mining you buy a contract 1 or 2 years which generated you coins over time. Considering the price of the coin and network difficult you will get your rewards. your $100 could give you $1000 in your first year and $1000 on the second

With home hardware mining you own the equipment forever. until it gets really old or dies. Potentially 2 - 3 years? You need to invest more than $100 to get started, but the real question is would it had been better invested into just buying the coins. If the mining rig paid itself within the first few months then definitely, if it seem like it's going to be a year... not so sure anymore.

If you have access to cheap or free electricity, then of course the risk is lower.