When iPhone displays white screen that says Hello that means all the data and settings are gone?
I recently sold my old phone on eBay and I'm going to ship it tomorrow. When iPhone displays white screen that says "Hello" that means all the data and settings are gone, right? I did Settings > General > Reset and then I selected Erase All Content and Settings. I'm just checking because I don't want to put my personal information at risk. 
You took out your sim card first thought right
Yes, as the name implies "Erase all content and settings" will erase everything on the phone.
Just make sure to take out the SIM card.
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