To use the component provide your own private/public OpenPGP key pair, or generate a new one using the included "GenerateKeys" action.
If you want to encrypt text, use the "TextToBinaryData" to convert your text to a file and convert the result back from a binary to text using the "BinaryDataToText" from the platform's built-in "BinaryData" extension.
When encrypting you can select a "CipherAlgorithm" and "CompressionAlgorithm" and force the usage of the Integrity Packet.