I would give it a try. Unless you are leaving the boat unattended at anchor it is better than most anchors.
My preference is to bungee mount a milk crate in the bow and put the anchor and rode into it, that way it can breathe to dry out.
You also need a bridle attached to the bow to tie the anchor line off too. There should be a couple of D-rings close to the bow with a handle at the bow. If you use knots on the D-rings large enough that they don't fit thru the bow handle it gives you three points of contact before failure.