BudgetAudiophile

Hi everyone, I recently bought a Wiim Ultra because it was the perfect device for my usecase. However I noticed that basically all BluRay players only have coax out and the Wiim doesn't have a coax input. Is it lossy to buy a cheap coax to toslink converter? In theory it should just convert the data 1 to 1 since both connections are digital ones, but I am not sure.

The reason I want this is because I am most certainly not paying hundreds of dollars to listen to CDs. I wanted to buy a "cheap" BluRay player for ~80€ and just use it to listen to CDs as well. As long as I bypass their DAC that should be fine imo. But I don't want my TV to be on for listening to CDs so thats why I want to use the digital output of it.