When you copy text to Insert to Instagram, as well when you create a Story or Download text as a sticker to your Photo Library, this text is being added to History (the 3rd tab).
Also in History you can find Quick Actions: just swipe text to the left and you will see Copy, Make Story and Delete buttons.
By default you have 18 actions for free: copying, making a story and downloading text as a sticker treats as an action.
There is also an instruction inside the app which demonstrates the steps you need to perform to add the text from app to Instagram Stories and TikTok Video.
A $0.99 / week (or $2.99 / month) purchase will be applied to your iTunes account on confirmation of subscribing to the preferred in app purchase.
You can always come back to the preferred combination of text and background you have used once.
Fancy Fonts - its fonts for Instagram as well as fonts for TikTok.
You can find a lot of fonts supporting English language and many others.
Any unused portion of a free trial will be forfeited if you purchase a subscription.
You can cancel anytime with your iTunes account settings.
Subscriptions will automatically renew unless canceled within 24-hours before the end of the current period.