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Quick answer
"Estoy bien, gracias" is a phrase which is often translated as "I'm fine, thanks", and "hola" is an interjection which is often translated as "hello". Learn more about the difference between "estoy bien, gracias" and "hola" below.
estoy bien, gracias
A phrase is a group of words commonly used together (e.g once upon a time).
1. (I don't need anything else)
a. I'm fine, thanks
¿Quieres otro cojín? - No, estoy bien, gracias.Do you want another cushion? - No, I'm fine, thanks.
b. I'm okay, thanks
¿No quieres un poco más de vino? - Estoy bien, gracias.Don't you want some more wine? - I'm okay, thanks.
2. (I'm in good health)
a. I'm well, thank you
¿Cómo te encuentras ahora? - Estoy bien, gracias.How are you feeling now? - I'm well, thank you.
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An interjection is a short utterance that expresses emotion, hesitation, or protest (e.g. Wow!).
1. (greeting)
a. hello
¡Hola! ¿Cómo estás?Hello! How are you?
b. hi
¡Hola! ¿Qué hay de nuevo contigo?Hi! What's new with you?
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