PeerWise is an online application where students are encouraged to generate a bank of multiple choice questions for their classmates to answer. After answering a question, students can provide feedback to the question author about the quality of the question and the question author can respond to this. Student use of, and attitudes to, this online community within PeerWise was investigated in two large first year undergraduate physics courses, across three academic years, to explore "how" students interact with the system and the extent to which they believe PeerWise to be useful to their learning. Most students recognized that there is value in engaging with PeerWise, and many students engaged deeply with the system, thinking critically about the quality of their submissions and reflecting on feedback provided to them. Students also valued the breadth of topics and level of difficulty offered by the questions, recognized the revision benefits afforded by the resource, and were often willing to contribute to the community by providing additional explanations and engaging in discussion.