Can I exchange my old IPhone in for a new one?

Okay so my carrier is Verizon and I have to wait 2 whole years until I can upgrade (I have 1 year left). I have an 8GB iPhone 4. My phone has been crashing so much, I can barely use any of my apps. I tried to update to iOS 7, but I didn't have enough room. I deleted pretty much everything off my phone and I still didn't have enough room. I heard from one of my friends you could trade in your old phone and get a new one of your choice and pay like $50-$100 at Verizon. Is this true? What can I do?

Verizon has a new program called The Edge. You have to pay a fee for The Edge. Then if your phone breaks you can trade your phone in on a different phone.

If you are not subscribed to The Edge, you will have to pay full price for a new phone.

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