What to do with a service less iphone 5?

I have a Verizon iphone 5 and it's not connected to them anymore. What can I do with it? Is it worth keeping it or should I just sell it.

Depends. If it has a lot of memory it would be a handy music and movie player. But you can get a lot for them if they are in good shape. Assuming the IMEI is clean.

Definitely don't sell it to one of those cell phone buy back deals. They pay you nothing and get a treasure trove of personnel info even if you've reset it. The only way to completely erase data on an iPhone is to turn it into powder or hit it with a high powered electromagnet which renders it worthless. I would just keep it for a back up phone, iPod, web browser within Wi-Fi or a multitude of other uses. You can even legally unlock it and take it to any mom and pop carrier and use it because the only thing that makes it Verizon's phone is the baseband not the actual hardware and firmware can be changed. I wouldn't think about getting rid of old smart phones lap tops hard drives or CPUs until they are completely obsolete. Then it's hammer time. Then take all the silver and other precious metals out yourself. You won't get much for that but you keep just that much more of your privacy. Which is disappearing fast.

Did you disconnect it yourself, or did the ESN go bad? If you didn't pay the bill, or still aren't paying it, the ESN is bad. That makes the price drop $100-200.It means that it can never be activated again unless you pay that bill. If that's not the case, and it's not attached to any plan, than you can sell it for a decent price. If you don't want to sell it, than you can use it as an iPod, use it for Twitter, Instagram, another camera, a web browsing device, you can read ebooks on it, etc.

Sell it. Erase the phone and sell it. If the ESN is bad is will bring less but can still be used by flashing or overseas with a sim. If the ESN is bad wait 7 months and it may be good again.