Up until 2011, Glymur was regarded as the tallest waterfall in Iceland but then, Morsárjökull was newly measured and pushed Glymur into 2nd place. Still, the unspoilt nature that surrounds this waterfall is a must-see.
You can go on a hike along the river Botnsá, there is a series of marked paths that will lead you to the best viewing spots. The hike up is quite adventurous. You will need to go through a cave and cross a river but the views are definitely worth the effort.
Glymur is located in the Hvalfjordur fjord, and it takes about an hour drive from Reykjavík to get there.
Wikipedia https://en.wikipedia.org/wiki/Glymur
Address Leggjabrjótur, Reykjavik, Iceland
Coordinates 64°23'16.731" N -21°15'19.019" E