Visiting Gocta Waterfall, which is arguably the world's 3rd tallest at 771 meters (2,530 feet), is an easy day trip from Chachapoyas.
For $18, you can join a tour that includes roundtrip transportation in a minivan. The park entrance fee is another $2, and a fresh trucha (trout) lunch will run $3.50.
The hike from the drop-off point to the base of the waterfall takes an average of 2 hours, and there's a house with water and snacks for sale at the halfway point.
While it can seem like an easy hike, the altitude can slow you down if you haven't had a few nights to acclimatize in Chachapoyas (Elev: 2,300 meters) first.
The volume of water coming over the falls varies greatly based on the time of year.
I visited in October, before the start of the rainy season, so the water that was falling looked more like a cloud of mist than a heavy torrent.