What's the difference between a torrent file and a Magnet link?
What is the difference between usage, can I use μTorrent to download files from a Magnet link?
μTorrent is compatible with Magnet links, so you can use them.
Instead of downloading the .torrent file from a webserver, you download it directly from a seed/leecher. The biggest advantage is that you might be able to download the content of the torrent, even if the tracker is down or closed for registration.
Traditionally, .torrent files are downloaded from torrent sites. A torrent client then calculates a torrent hash (a kind of fingerprint) based on the files it relates to, and seeks the addresses of peers from a tracker (or the DHT network) before connecting to those peers and downloading the desired content.
Sites can save on bandwidth by calculating torrent hashes themselves and allowing them to be downloaded instead of .torrent files. Given the torrent hash – passed as a parameter within a Magnet link – clients immediately seek the addresses of peers and connect to them to download first the torrent file, and then the desired content.
It is worth noting that BitTorrent can not ditch the .torrent format entirely and rely solely on Magnet links. The .torrent files hold crucial information that is needed to start the downloading process, and this information has to be available in the swarm.
Yes, you can.
Both torrent file and Magnet links perform the same task, that is, download files via BitTorrent. Magnet links contain hashes of the files to be downloaded and location of where these can be downloaded from.
From the Wikipedia,