Problem I see with using a chest freezer is the type of cooling they use is just like a regular fridge isn't it? The implication of that being it will suck the humidity out of the air making an endless battle to try and keep the thing properly humidified. If it was a beat up old thing and you just use it as a place to store cigars with a pound or two of beads in there, that might work. If its in the basement the temp is probably a bit cooler and would work ok.