Step one – Create a new page and call it “Blog” (or whatever you like).
Step two – Set the page template to blog.
Step Three – Save the page.
Step Four – Scroll down and choose your blog options.
Step Five – Publish Page.
IMPORTANT – DO NOT SET THIS PAGE AS YOUR POST PAGE IN SETTINGS > READING.
With Virtue theme you do not need to set a page as the post page in the wordpress reading settings. They should look like the image below with no page selected.