Which is the more standard way to use venv for Python 3.8 or newer?

1) venv at the same level:

create new project on GH

git clone https://github.com/user/myproject

python -m venv myproject

cd myproject

(activate venv)

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2) clone first, venv in subdirectory:

create new project on GH

git clone https://github.com/user/myproject

cd myproject

python -m venv venv

(activate venv)

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3) something completely different? if so, what?