The main differences between the Mi True Wireless Earphones 2 and 2 Basic are in their design, charging case, and pricing. The Mi True Wireless Earphones 2 have a more streamlined design, a larger charging case with an LED display, and offer features like active noise cancellation. On the other hand, the Mi True Wireless Earphones 2 Basic have a more compact design, a smaller charging case, and lack active noise cancellation, making them more affordable.