This was a great purchase for a phone holder as a tripod or phone stand. Yes, you can put your phone in and just stand up. It's pretty good and I might get another one for my car at some point. I'm not sure what the little black circle means as it only loosely covers the underside of the main rotating part of the holder. My only complaint is that I received a product with a thin backing unlike all of their promotional images and because of this the holder can wobble a bit. This is not a free swing but a reliable swing as the thin support structure is a bit weak. If it was as advertised, with a thick neck going all the way up, then it would be a beast halter as it probably wouldn't rock at all. But now it's just a "good" holder.
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