Can you add a link vs editing an existing one?

Can you create a named link in an outline? Or is the only way to type or paste in a URL, hit return to allow it to auto-format as a link, then right click on it to Edit Link and add descriptive text for the URL? I had some text items I wanted to add links for and it seemed like a convoluted process to turn them into links. In OmniFocus, in the notes field, you can directly invoke the URL editor from the Edit menu, which I’d like to see in OmniOutliner as well.