Iphone 5 without a contract?

So, I've been told that apparently you can have a smart phone with no contract whatsoever. Something regarding a squared device that works like Wi-Fi. I don't know exactly how it works, but the thing is I don't want to be stuck in a 2 year contract paying for hidden fees. I want an IPhone 5 with no contract (don't mention none of those no-contract plans that are offered by boostmobile or at&t). I just want to be able to enjoy my Iphone 5 with no contract. Pretty much I just want the internet wherever I go. Maybe I can download one of those apps that allow you to text for free. Can somebody please explain how I can do that? What exactly is that squared Wi-Fi thing? How does it work?

Tmobile offers no annual contracts and you can buy the phone for full price at the tmobile store. With this "no contract" plan, you get unlimited everything for 70$ a month.

Now if you don't want to play every month, you can go on websites like eBay or of the such and just buy an unlocked iphone 5 and just connect to Wi-Fi while you are at your house. Internet will not work unless you aren't on Wi-Fi because you aren't on any carrier.

There are no such devices which will give you unlimited Wi-Fi access everywhere you go. You'll have Wi-Fi every now and then on your iPhone whenever you're in Wi-Fi coverage area. Wi-Fi Squared is a different Wi-Fi tech which gives you 1hr free Wi-Fi every 8hrs and it's available only in Savannah, GA. It's not a device. You can buy the unlocked iPhone 5 which you can use on any GSM prepaid carriers and without any plan like SimpleMobile or StraightTalk. But if you want Wi-Fi, then you'll always get Wi-Fi whenever you're in Wi-Fi hotspot coverage area. If you need iPhone 5 without contract or factory unlocked cheaper than retail, mail me.