What are the key differences between magic truffles and magic mushrooms?

Magic truffles and magic mushrooms are different parts of the same fungi. Truffles are hardened masses containing food reserves that stay underground (called sclerotia). Magic mushrooms are the fruiting bodies (stem and cap) that you see poking out of the ground. Magic truffles and magic mushrooms belong to the same family of Psilocybe fungi, and both contain psilocybin.