Here are the key steps to copy a file using buffered streams:
1. Create a FileInputStream on the source file
2. Create a BufferedInputStream from the FileInputStream
3. Create a FileOutputStream on the target file
4. Create a BufferedOutputStream from the FileOutputStream
5. Read bytes from the BufferedInputStream and write to the BufferedOutputStream
6. Close the streams
This uses buffered streams to improve performance by reducing the number of reads/writes through buffering. The buffered streams handle reading/writing the file contents efficiently under the hood.