What is the difference between these three phrases in Spanish Me llamo Bob and Soy Bob and Mi nombre es Bob AND when would a person use the three?

Soy Bob = I'm Bob (More informal, you could use it in a phone conversation, it's like: "Hi, it's Bob")

Mi nombre es Bob = My name is Bob (More formal, not usually used)

Me llamo Bob = I'm called Bob (Literal translation) (It's a more casual phrase but it's polite)