What are the two ways of formatting in React Intl?

The library provides two ways to format strings, numbers, and dates:

1. Using react components:

<FormattedMessage
id={"account"}
defaultMessage={"The amount is less than minimum balance."}
/>

2. Using an API:

const messages = defineMessages({
accountMessage: {
id: "account",
defaultMessage: "The amount is less than minimum balance.",
},
});

formatMessage(messages.accountMessage);