What you need to know is that centripetal acceleration, $a_c=\large\frac{v^2}{r}$.
Constant Magnitude of Velocity is just as it is, as a consequence of Centripetal acceleration which result when a body trying to move in a circular motion with velocity $v$.
However, the velocity vector $\vec v$ is not a constant vector because it's direction is always changes. A vector is constant when both it's magnitude and direction are constant. And this change in direction is what is produced by the centripetal acceleration!
Also remember that, Centripetal acceleration and velocity are direct consequences of each other when a body tries to move in a circular motion with a velocity $v$ without tangential acceleration(google if you like!).
Also note that usually as you go along your physics course you will see that the centripetal force or acceleration is mostly provided by an outside agency! For e.g., Gravitational field, Magnetic field , Tension of a taut string ,etc! Which causes the body to move in a circular path with a constant magnitude of velocity $v$
And at times velocity is produced from prior sources! Before the object is subjected to circular motion. For e.g., A charge moving perpendicular to magnetic field with constant velocity! That velocity is provided beforehand by any means possible.
If you are confused about how does a change in velocity is possible when magnitude is constant.
Consider the velocity vector to be at some instant
$\vec v_1=\hat i$ (which means it's direction is entirely along $x-axis$ and magnitude 1)
And at some other instant $\vec v_2=\hat j$ (entirely along $y-axis$ and magnitude 1)
They are of same (constant magnitude but different direction).
Now, notice that $\vec v_2-\vec v_1\neq0$ but $=\hat j-\hat i$ which has a magnitude $\sqrt{2}$.