Add URL button issue

When I add and URL to a post using in-text formatting --> "[]{)" brackets followed by parentheses <--, I can test out the link in the post preview section (blue text present and is clickable), but when I use the "add URL button", I cannot do so. Also, using this button will append "http://" to an address with a different or non-existing prefix.

Very easy to test out. Fixing this small problem would allow anyone to test out their links before posting, button or no button. Notice the "http" appending in the button link

PS: Adding a second URL in the post makes the first "button-generated" URL clickable and blue.