Hello, I have noticed that when I am breathing the right way (from my belly, 360 degrees breath), I am not getting as much air as from the wrong type of breathing, where you lift your shoulders. I've also noticed, that many famous singers lift their shoulders as they take a breath while performing. Should I just continue practicing breathing from the belly or am I missing something? 

At the end of the day, you can do what works best for you! The reason we recommend a lower breath is because it uses the muscles (intercostals and abdominal) that you'll need when singing. In addition, a high "clavicular" breath (chest and shoulders rising) tends to encourage constriction where we don't want it (in the throat). 

Some professionals might breathe "higher" to get a quick breath while they're dancing - and perhaps it doesn't affect them negatively! However, a low, relaxed breath remains the standard (in teaching voice). 

Thank you! I will stick to what you taught me.

Sure thing!