Any one has idea on how to change language based on profile language for text and button labels for a custom component in lightning communities? I tried to add language to the community page but it is only translating the standard components and only the component label is changing not the content. Attached is a screenshot of a standard object where only the label is translating into different language and not the content.
You should be using Custom Labels for that.
Then you should translate the labels in translation workbench or Directly
After these steps you should see the labels in chosen language.