You can apply animations to your text either on the 'Quick Edit' screen or the 'Advanced Editing' screen.

Step 1: Select the text box to which you want to give the animation.
Step 2: In the bottom right corner, under the 'Text Animation' tab, you can choose from the following options -

Animation for how your text enters the scene
Animation for how your text exits the scene
Animation for how your text box as a whole enters the scene
Animation for how your text box as a whole exits the scene

Step 3: Preview your scene to see how the animations work in the scene.

Here is a short video to take you through the process

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