In a large bowl, whisk together the buttermilk, paprika, salt, pepper, garlic powder, onion powder, and cayenne pepper.
Place the chicken pieces in the bowl with the buttermilk mixture and toss to coat. Cover the bowl with plastic wrap and refrigerate for at least 1 hour, or up to 8 hours.
Preheat your oven to 400°F (200°C). Line a baking sheet with parchment paper.
In a shallow dish, mix together the flour, paprika, salt, pepper, garlic powder, onion powder, and cayenne pepper.
Heat about 2 inches of vegetable oil in a large, heavy-bottomed pot over medium-high heat until it reaches 375°F (190°C).
Dip the chicken pieces in the flour mixture, coating them evenly on both sides.
Carefully place the coated chicken in the hot oil and fry for 8-10 minutes on each side, or until it is golden brown and crispy.
Remove the fried chicken from the oil and drain it on a paper towel-lined plate.
