Making WhatsApp text bold, italics, strikethrough and monospace is a simple task and here's how you can do that on Android:
Italic - Tap it if you want to make the selected text italics.
Strikethrough - Tap it if you want to make the selected text strikethrough.
Monospace - Tap it if you want to make the selected text monospace.
That's it. All done.
Note: You can apply more than one formatting (except monospace) to the same text. For instance: You can make the text bold, and then you can apply italics to the same.
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How to Make WhatsApp Text Bold, Italics, Strikethrough and Monospace