Since the basement is normally cooler than the upstairs, the refrigerator will run less often. This will not only extend its lifetime, but also lower the electricity it consumes, thus also reducing your carbon footprint. The kitchen space previously wasted by the refrigerator has uses that are only limited by your imagination.
Finally, you and your family will directly benefit from the exercise you get with trips to the fridge. Of course it is not convenient - that is the point. Sometimes you might even pass up that extra dish of ice cream, because it's a pain in the butt. However, the size of your butt may be improved.
It's a simple step that can be done in a couple of hours. And the recurring benefits are automatic and last a lifetime.
Method #1: https://www.youtube.com/watch?v=2J8ul-CcrzY
Method #2: https://www.youtube.com/watch?v=NXCiWk-aIyc