Magic circle Tutorial - this is exactly how I make mine. I've seen other tutorials where they start with 2 loops but I always just do the one. I also pull that first ch loop really tight. The only difference is that I do count that ch as my first ch, mainly because I don't like to ch 3 for a dc, just a loose ch 2 works best for me.
TECHNIQUE TUTORIAL How-To Crochet A Magic Loop popular when working amigurumi. It also works well when crocheting beanies, granny squares and any other pattern that is worked in rounds. Basically what is good about using the magic loop (or magic ring/ adjustable ring) method is that it omits the hole/gap when starting your crochet project with a ch 2 for example and crocheting in that second ch from your hook!