In a large bowl, combine the buttermilk and hot sauce. Add the chicken pieces, ensuring they are fully submerged. Cover and refrigerate for at least 4 hours, or overnight for best results.
In a separate bowl, mix together the flour, paprika, garlic powder, onion powder, salt, black pepper, and cayenne pepper.
Remove the chicken from the buttermilk, allowing excess to drip off. Dredge each piece in the flour mixture, pressing lightly to adhere the coating. Shake off any excess flour.
In a large, deep skillet or Dutch oven, heat about 1 inch of vegetable oil over medium-high heat until it reaches 350°F.
Carefully add the chicken pieces to the hot oil, working in batches to avoid overcrowding. Fry for 12-15 minutes per side, or until the chicken is golden brown and cooked through (internal temperature should reach 165°F).
Once cooked, transfer the chicken to a wire rack or paper towels to drain excess oil. Let it rest for 5 minutes before serving.