Yeah I prefer the one with a double chain for that reason.
As far as weight belts in general, there are (old)
studies that show they may be effective at reducing injury by decreasing what they call intra-abdominal pressure. I've also seen new information suggesting that they actually don't do all that much. I don't use them for a few reasons:
1) I have yet to see anybody do squats with correct technique using a weight belt. I have tried and failed; I physically cannot use perfect technique while wearing a belt.
2/3) I don't necessarily care about pushing a few extra pounds, I'd rather have good technique/I want to train my core, not use a belt as a crutch.
4) I generally don't do enough weight to warrant the use of one (IMO).