I would suggest to use only 1
like this. This would be the best. As exists
only checks whether there is any entry in your table.
if not exists (select 1 from sys_maxkey)
Although if you want to compare between the above two mentioned in your question then
if not exists (select id from sys_maxkey)
would be better provided that id
is the primary key. You dont have to check all the columns by using *
just for checking whether there exists a value in your table.