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+1 to both Andy and Noah.
Some reasons why I feel the question may not be a good one:
(a) If you phrase it as "where should I submit this paper", then it is not of interest to the mathematical population at large;
(b) whereas if you phrase it as "where should [undergraduates] submit papers on [cryptography]", then you will likely get a bunch of opinions with limited usefulness.
(c) Opinions about journals have a somewhat personal flavour to them, and you will, in the best case, get contradictory opinions (especially about journals which are obviously not one of the Top ones that everyone agrees are good), and in the worst case, start a question that leads to some arguments. (Many people here, I'm sure, have scratched their heads at a Referee report that goes something like: "The mathematics of the paper is correct. The theorem is of interest. But I don't think it is of a level appropriate for Journal X; I suggest submitted to Journal Y", when they hold Journal Y in higher esteem...)
(d) As a corollary, there's no best journal for submitting papers. The refereeing process is often a bit of a crapshoot.
On the other hand, it would be better if you asked a question that can be objectively determined to have a right answer. Something like this or this which asks about facts, or statements that can be easily checked against the mission statement of the journal itself, certainly will be a better question.
Like Andy, I don't really think this is a good idea. After all, use the categorical imperative: what would MO be like if every time anyone wasn't sure where to submit a paper (read: every time anyone wanted to submit a paper) they asked MO? It would be a disaster.
Also, if you're worried about grad school, you might benefit from reading this question and its answers: How important are publications for undergrads?
Agreed. I was recently tempted to ask a similar question and decided to ask a mathematician of my acquaintance instead.
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