First, backup your device and upgrade to iOS 8.1 if you haven’t already. Next, download the latest version of PanGu (I used version 1.0.1).
PanGu is Chinese, so don’t expect to be able to read anything unless you have a Chinese character set installed on your system (and know how to read it). Fortunately, it’s a pretty straightforward process for the most part.
Before you run PanGu, make sure you disable Find My iPhone. I also recommend disabling a passcode for now.
With your iPhone connected, run PanGu. Make sure the first tab is selected (1.). I recommend unchecking the box that says ??????,??PP?? (2.) — this is an additional app that installs alongside PanGu which is essentially a Chinese AppStore. You most likely don’t want or care about this. It’s safe to uncheck it.
Finally, click the blue button (3.) and let it do it’s thing. After clicking the button, make sure your iPhone screen is locked. Don’t touch it until it’s done. It will take about 15 minutes, which… is longer than you think.
After it restarts one final time, your phone will be in airplane mode. Just turn it off, enable WiFi again, and start up the Pangu app. You’ll see a link that says Cydia, but this isn’t working just yet. Instead, skip that and install OpenSSH. Now we’re ready to download and install Cydia.
. . .
This link has some very useful information, but I’ll go ahead and repeat the way I did it.
First, download and run WinSCP (Windows) or CyberDuck (OS X). Then download this and this. Those are the two files you’ll need to install Cydia. Open up WinSCP or CyberDuck, connect to your device with SFTP (use your device’s IP address found in Settings > WiFi > ‘i’) using username ‘root’ and password ‘alpine’. Navigate to /var/root/Media and create a directory called Cydia. Open up your new Cydia directory and create another one called AutoInstall. Finally, drag and drop those two files you downloaded into the AutoInstall folder. Select both, right click on them and choose properties. Set them both to 7777. Click okay, and reboot your device.
And that’s all there is to it! You can’t do much yet, but who knows when Apple will patch this, so if you plan on jailbreaking don’t wait.
Let me know if you had any success or trouble.
. . .
Want to check which Cydia apps are currently compatible? See here.