IPhone 5 not recognizing SIM card, I can't activate the phone.

Hi, everybody.
A couple of days ago, I bought an iPhone 5 from a friend. I have an iPhone 4 and, as you know, they both have different SIM card sizes (4 uses micro size and 5 uses nano size). When I got the iPhone 5, I restored it to factory settings, but couldn't activate it 'cause I didn't have the nano SIM card (or SIM nano card, anyhow it goes), so I just turned it off. Next morning, I went to my mobile carrier to buy a nano SIM card (they took like 28 hours long to activate it…anyway) but the iPhone is not recognizing it, so I cannot activate it.
I've gotten stuck in the white "Hello" screen for like 3 days already and I'm running desperate 'cause I wanna use my stupid iPhone 5…
Please, guys, any help?
EDIT: It cannot be restored via iTunes 'cause I get a screen saying that there's no SIM card in the iPhone I'm attempting to activate. The friend who sold me the phone showed me a way to restore it on the phone itself, without having to send the command through iTunes 'cause he said that from iPhone 4S onwards all phones have to be restored with a SIM card inserted. Thing is, I tried this two or three times on the iPhone 5 but the device still doesn't recognize the stupid SIM…

EDIT 2: It cannot be restored via iTunes 'cause I get a screen message saying that there's no SIM card in the iPhone I'm attempting to activate. The friend who sold me the phone showed me a method for restoring it on the phone itself, without having to send the command through iTunes (connect the phone to computer, turn it off, hold both Home and Power buttons until the Apple logo disappears, release the Power button without releasing Home button, iTunes shows a message about an iPhone in restoring mode, restore, etc.). Thing is, I tried this two or three times on the iPhone 5 but the device still doesn't recognize the stupid SIM…
Please, help

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