Up to now, any attempts to implement true copy and paste on the iPhone have involved installing apps, often requiring a jailbroken phone in the process.
Pastebud has a better idea. An app-free idea, to be precise.
the touch of a finger. From there, you can copy any text you want and
create a new mail message with that text in it. In addition to that,
you will be able to copy and paste in the text field of a different web
Pastebud is set to launch Friday, December the 12th; until then, the website link will redirect you to their page on Twitter.