You've probably heard about 5G, the new and faster wireless networks that Verizon, AT&T, T-Mobile and Sprint are beginning to activate around the U.S. right now.

But, if you're buying a new phone, or even considering waiting for Apple's new iPhones in September, you don't need to worry about 5G just yet.

Pay attention to it – 5G is important – but you can ignore buying into the hype right now.

The 5G service is going to be great. It'll give you faster data speeds, which means you'll be able to download high-resolution movies in just seconds, instead of minutes. Higher res video chats will work everywhere. It'll help connect smart cities so self-driving cars will know if there's an accident on the road, or to slam on the brakes if someone is running a red light. It'll change how we get TV and internet at home and will touch almost every industry, and the true benefits probably won't be known until it's fully deployed and developers show us what we can do on our phones and other gadgets with faster speeds.

But 5G also won't be widespread very soon.

Verizon's CEO, Hans Vestberg, told CNBC on Thursday that his company's network will reach half of the U.S. by 2020. AT&T and T-Mobile have promised nationwide coverage by the same time, but that's if they stay on schedule. (T-Mobile is awaiting final approval to merge with Sprint, which it says will help it compete in 5G.) Currently, the carriers only have small pockets of 5G networks that don't do much other than promise faster data speeds when you're in the right area. And only a few phone makers — Samsung is the largest — are selling 5G phones today.