Perhaps the easiest way to conceptualize orbital velocity is to think about the force/acceleration that pulls you down and what is needed to negate that.
Earth pulls you down with an average constant acceleration of 9.8 m/s^2. To stay on circular orbit you would need constant acceleration of 9.8 m/s^2 of opposite direction.
For object in uniform circular motion (object in orbit) the acceleration, called centripetal acceleration, comes from constantly changing direction. Velocity is a vector, hence it has both magnitude and direction. Change of both, or just either one, means acceleration. On orbit your speed remains constant, but the direction changes constantly, hence you get constant acceleration. This will negate the pull by gravity.
Formula for centripetal acceleration for uniform circular motion is as simple as a = v^2 / r.
a = Centripetal acceleration
v = Orbital speed
r = Radius from the center of gravity
In the equation, if you replace a with 9.8 m/s^2 and r with the desired orbital radius, for example 6371 000 m + 355 000 m (average radius for Earth + average altitude for ISS), you can easily calculate the required orbital speed, that gives constant centripetal acceleration of 9.8 m/s^s, which negates the acceleration of gravity that constantly tries to pull you down.
Solving the equation with those numbers gives orbital velocity of 8123 m/s. With this speed the ISS would orbit the Earth in about 1.45 hrs, which is equal to 87 minutes.
In reality the speed is a little less and one orbit takes ~90 minutes, because the pull of earth's gravity is a little less than 9.8 m/s^2 at that altitude. The gravity becomes progressively less the higher up you go. It is still a rather good approximation especially for very low orbits.
Also note that the vector for centripetal acceleration points down to the center of gravity. The force created by centripetal acceleration will push you away from the center of gravity. Hence the acceleration of gravity and acceleration of uniform circular motion cancel each other, and you stay on orbit.