It's easier to unlock your Nexus 5 bootloader than it is to decide if you want to do it
If you're receiving your shiny new Nexus 5 in the near future, you'll want to think about unlocking the boot loader. It's a bigger undertaking than the folks on the Internet make it out to be, and doing it later is a huge pain in the kiester, so it's worth talking about.
First things first. Since it's a Nexus device, it was designed to be easily unlocked. There is no extra encryption layer, no signing your life and warranty away at the website of the people who made your phone, and no software hacks to try to bust your way around things. You only need the SDK and be able to use the command line — which are things you need to know about before you ever decide to unlock your phone anyway.