Can I take out the sim card out of my iphone 4?

And sell it, then buy the new iphone 5, and pay only like $10?

The people have to register the sim to the iPhone themselves so not really. It will end up locking your phone if you place a new sim inside. It's there smart way of making money -.- I wanted to use my old sim*same as you and pay just the normal price instead of that rip off contract