Two of the elements are mainly responsible for text content, they are Heading and Text.
You can insert links into the text by selecting the text part you want to associate the link, a popup shows up.
Click the link icon to insert a link, the Link Picker will display.
You can choose a link, and click Choose to insert the link.
You can hover on the inserted link to preview its URL.
You can click on the URL to open Link Picker again or click the cross icon to unlink.