I have heard of several people using the 'chain 2, sc X about of stitches into the second chain from your hook' because they can't really get the magic ring right. The 'chain 2' method is good if you are just learning how to make amigurumi, and you are just doing a small practice circle, but I don't recommend using it for a stuffed animal. Why? Because once you work the required amount of stitches into the specified chain stitch, you have to pull the beginning yarn strand tight to close the hole. But when you use the 'chain 2' method, the hole doesn't close all the way, leaving a hole in your stuffed cutie :(
The magic ring method solves that problem. When you are making the magic ring, you are basically making a knot.
← Take a look at this photo. If you were to cut the working yarn and pull it through the loop, after pulling the two yarn strands tightly together, you would have nothing but a tight knot. So would you rather have a hole in your amigurumi, or a nicely closed beginning ring? If you prefer the latter, keep reading!