Document: execCommand()

execCommand(commandName, showDefaultUI, valueArgument)

<h2>textarea</h2>

<div class="actions" data-for="textarea">
  <button data-el="b">Bold</button>
  <button data-el="i">Italic</button>
</div>

<textarea class="editarea"></textarea>

<h2>contenteditable</h2>

<div class="actions" data-for="pre">
  <button data-el="b">Bold</button>
  <button data-el="i">Italic</button>
</div>

<pre contenteditable="true" class="editarea"></pre>

// 
const buttonContainers = document.querySelectorAll(".actions");

for (const buttonContainer of buttonContainers) {
  const buttons = buttonContainer.querySelectorAll("button");
  const pasteTarget = buttonContainer.getAttribute("data-for");

  for (const button of buttons) {
    const elementName = button.getAttribute("data-el");
    button.addEventListener("click", () =>
      insertText(`<${elementName}></${elementName}>`, pasteTarget),
    );
  }
}

// 
function insertText(newText, selector) {
  const textarea = document.querySelector(selector);
  textarea.focus();

  let pasted = true;
  try {
    if (!document.execCommand("insertText", false, newText)) {
      pasted = false;
    }
  } catch (e) {
    console.error("error caught:", e);
    pasted = false;
  }

  if (!pasted) {
    console.error("execCommand ");
  }
}

<button id="paste"></button>
<hr />
<textarea id="text_box"></textarea>

const pasteButton = document.querySelector("#paste");
const textBox = document.querySelector("#text_box");

pasteButton.addEventListener("click", () => {
  textBox.focus();

  let pasted = document.execCommand("paste", false);
  if (!pasted) {
    textBox.textContent =
      "execCommand ";
  }
});