Admittedly I am super new to this stuff and not very knowledgeable on many of these topics but in reading other posts I have been encouraged to post my questions. I am interested in maybe using a DAC between my receiver and digital devices. I know my receiver has one built in but would maybe like to see if an external DAC could improve the sound. Would there be an advantage to using a DAC in this situation?

I currently use a Etekcity Wireless Bluetooth 4.0 Receiver Audio Adapter to hook up any devices for streaming. I have seen some DACs also support bluetooth in the unit which could maybe replace the adapter entirely.

For other digital devices I would like to hook up a cd player soon. Nothing special, maybe a portable CD player just to get started and eventually I would like to have a NAS storage for my digital music. I also route my TV through my receiver. I don't really have interest in a 5.1 surround or anything just a 2.1 for now. If I purchase a DAC can I route all of these devices through a single DAC or would I need a dedicated DAC for each digital source? Is a DAC a good investment for my current setup? I'm looking for something pretty basic (under $200) for now. Any advice or information would be welcome.