I use Cash App as my "bitcoin checking about". I get paid in BTC as a direct deposit to my Cash App. Cash App has an account and routing number associated with the account, which takes care of online bill pay including mortgage. Cash App debit card can be loaded to Google Wallet, so I can use physical card or Google Wallet on phone for paying at the register. I float about a month's worth of the budget as USD in the cash amount on the app (just like I would in a normal bank checking account). This ensure there's cash to pay bills, but also let's me maintain a bigger to take advantage of bitcoin price volatility. If price is up, I sell more to cover bills for the next month. I also really like using Bitrefill gift cards that I buy with bitcoin, then load on the apps to make purchases. Cash App creates a 1099 form for taxes which gets automatically uploaded into Turbo Tax.
That's a really clever way to consolidate everything. Especially since they keep track of the tax aspect as well. Do they allow you to manage UTXOs? So they can track each transaction for taxes? Or do they look at it more as a lump sum thing?
Cash App doesn't really let you manage UTXOs, but it does track individual transactions. So that way, just like selling stock shares, you can set the taxes to First In First Out (FIFO), so if you bought any more than one year ago, it will tax it at the lower long term capital gains rate.
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