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);