If I erase all content and settings on iphone, is it possible for?

The person who buys my phone to restore everything?

Nope.

Turn your iphone off and boot up itunes on your computor, hold the centre button on iphone while its off and connect to computor with usb, this will erase all data itunes will tell you on screen what's happening and then safe to sell on

No you shouldn't worry about this problem. Unless they know your apple id and password you're safe.

The only way they could restore it to what you had on it is if they connect it to your computer.

Yes, there are some iPhone data recovery software like Tenorshare iTunes Data Recovery can restore lost or deleted data from iPhone.

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