I got blu studio 5 ...my sim is with verizon .i want to jailbreak so i can use my verizon number and service on the blu studio . Please help

wcdma is not compatible with these phones (ie. Tmobile wCDMA, Boost Mobile, Verizon) you need a GSM only Sim

Yes you can jailbreak your iPhone, however if it is "sim" locked it will not work as a phone in most countries still, as the imei number remains the same. Also jailbreaking will invalidate and form of warrenty or support from Apple.
Hope this helps.
Andy

This is a commonly reported issue with the BlueStudio 7, that it is discussed in the following video:

BLU Products Studio 5 5 Unboxing and Review 4G Mobile Quad Core GSM...

There is a freeze and lock issue with this phone reading the SIM cards. This is discussed in the comments of this YT review of the phone.

BLU Products Studio 5 5 Unboxing and Review 4G Mobile Quad Core GSM...

Jailbreaking is entirely different from unlocking . Jailbreaking is the process of removing limitations/restrictions so that 3rd party applications can be installed. Unlocking a phone is a procedure to remove any SIM/Network restrictions set on the phone by either the manufacturer of the phone or by the mobile phone's service provider.
To unlock your iPhone 3GS you can get Remote Unlock Service from Mobile-Unlocker.com . There you have to give your Country and current Network name along with your IMEI number to get Remote Unlock Service.

Please send me the Unlock code for Blue studio 5.3 IMEI 352360050672767

If want to use it for all networks you have to know what type of service you have. GSM: Sim Card (to get service) CDMA: Register IMEI Number /w provider (To get service)
To unlock the cell phone you have to call the provider to give you the code to unlock your cell phone with their specific GSM/CDMA phones. New Phones though have free ways to unlock the cell phone to be used on different networks. If you are an Iphone user look up Jailbreaking and UltraSn0w. If you are a Droid/Android phone look up rooting your phone
There are two types of used Cell phones common in the world.
The first type of cell phone is a GSM phone which uses a sim card type of service. Your service identifies you by the sim card you are using.
The Second type of of cell phone service is a CDMA type where everything is built onto the modem and you register it to get service through the IMEI number. Number can be found behind the battery.
You are permanently tied to a modem for specific networks.
Examples of Service providers in United States: GSM At&t, T-mobile CDMA: Verizon, Sprint

get the phone unlocked through JAILBREAK SOFTWARE,use MAGIC SIM or hack the phone software.

No. Verizon is not a GSM network.