Since this is a question from someone new to the field, I'll offer some cautionary advice.
The most important and reliable function of the UVK5/K6 is its FM transmission and reception at 144V and 430U. All other modes, which are implemented through firmware, are unreliable, and you should not expect to achieve full-band transmission and reception capabilities with a single UVK5.
Many users are experimenting with K5 because they have high-end devices like the IC9700, IC7100, FT897, and FT817. They're essentially using it as a hobby or toy.