Bob's on the other phone - would you like to <b>hang on</b>?<br/><br/>Bob's on the other phone - would you like to <b>hold on</b>?<br/><br/>What's the difference between "hang on" and "hold on" in the above sentences?<br/><br/>If both mean the same then is the both phrasal verbs can be used interchangeably in all contexts?<br/><br/>