Quick question about iphone 5

[pandahou]

I read that all Verizon iPhone 5 comes unlocked. I even checked the back of my box and it says GSM compatible. So does this mean if I choose to I can pop in an AT&T or t mobile sim in there and it would work just like that. Or of I lose my phone and report it stole will Someome else be able to put another gsm sim and there and use it ?

 

[iCrank]

I read that all Verizon iPhone 5 comes unlocked. I even checked the back of my box and it says GSM compatible. So does this mean if I choose to I can pop in an AT&T or t mobile sim in there and it would work just like that. Or of I lose my phone and report it stole will Someome else be able to put another gsm sim and there and use it ?

Techically the reason why it would be unlocked is for the LTE but as far as popping a sim in using it varies with carrier bc you won't get the same speeds. But yes someone would be able to pop a sim in but i dont know how far blocking it would get