Marinate the chicken: In a bowl, whisk buttermilk and egg. Add chicken pieces and toss to coat. Cover and refrigerate for at least 30 minutes (up to 4 hours) for tender, flavorful chicken.
Prepare breading: In a shallow dish, combine 1/4 cup flour, breadcrumbs, paprika, garlic powder, onion powder, salt, pepper, and cayenne. Mix well.
Dredge the chicken: Remove chicken from marinade, letting excess drip off. Coat pieces lightly in the remaining 1/4 cup flour, then roll in the breadcrumb mixture until evenly coated.
Heat the oil: In a deep skillet or Dutch oven, heat 2 inches of oil to 350°F (175°C).
Fry the chicken: Fry chicken in batches for 3–4 minutes, turning occasionally, until golden brown and cooked through (internal temp 165°F). Remove with a slotted spoon and drain on paper towels.
Serve: Sprinkle with extra salt if desired and serve hot with your favorite dipping sauces.