Turn the Instant Pot to the 'Sauté' mode. Heat the olive oil and add the diced onion, cooking for about 3 minutes until soft.
Add the minced garlic and diced bell pepper, sautéing for an additional 2 minutes.
Stir in the rinsed quinoa, black beans, diced tomatoes (with juice), corn, chili powder, cumin, paprika, salt, and black pepper. Mix well.
Pour in the vegetable broth or water, stirring to combine.
Close the lid of the Instant Pot, ensuring the valve is set to 'Sealing.' Set the Instant Pot to 'Manual' or 'Pressure Cook' for 12 minutes.
Once the cooking time is complete, allow the pot to naturally release pressure for 5 minutes, then carefully switch the valve to 'Venting' to release any remaining pressure.
Open the lid and fluff the quinoa with a fork. Adjust the seasoning, if needed.
Serve hot with your choice of toppings such as avocado, cilantro, lime, cheese, or sour cream.