Prepare the Potatoes: Heat olive oil in a large skillet over medium heat. Add the diced potatoes and cook, stirring occasionally, until they begin to brown and become tender (about 10-12 minutes).
Add Vegetables: Add the chopped bell peppers and onions to the skillet. Cook for another 5-7 minutes, stirring occasionally, until the vegetables are softened and the potatoes are crispy.
Season the Potatoes: Sprinkle the chili powder, cumin, paprika, salt, and pepper over the mixture. Stir to evenly coat the vegetables and potatoes with the spices. Cook for an additional 2 minutes, allowing the flavors to blend.
Serve: Once everything is cooked and golden brown, transfer to serving plates. Garnish with fresh cilantro and serve with your choice of toppings like avocado, salsa, or a fried egg on top.