No, a vest would be the way to go.
The belt I use is leather like a squat belt with 2 metal rings on the front and a chain attached to one ring with a clip. You feed the chain through the weight and then clip it to the other ring so the weight hangs between your legs for dips and pull ups.
What we think, or what we know, or what we believe, is in the end, of little consequence. The only thing of consequence is what we do. -John Ruskin