You can jailbreak it. Google is your friend. There are many tutorials out there that are free. You can always restore. If there's a new version just wait. There will be a jailbreak that will be release. Don't be afraid to jailbreak. And take note if we are talking about Iphone. You don't stop in jailbreaking there is what we called unlocking.
Unlock= so it can be used for making/receiving calls on other networks ...example t-mobile
Jailbreak= to free it from apple software restrictions. example use non-itunes apps, song videos, and emulators, homebrew..etc.