Can I use my Verizon iphone 5 on prepaid plan?

I have a Verizon 16gb iPhone 5. However, I don't want to go along with a 2 year contract. Is there any way I could activate it with Verizon or any other carriers' prepaid plan?

No… An Iphone 5 cannot be a prepaid phone on Verizon or ATT or Sprint…

Just by the phone

Smartphones requrie data plans unless you use it wifi only… Don't know of any prepaid plans or anything like that.

No, you cannot get the iPhone 5 on Verizon prepaid, and you can't get it prepaid on T-Mobile, AT&T, and Sprint either.