Rinse the dried pinto beans under cold water to remove any debris.
In a large pot, combine the rinsed beans and 4 cups of water. Bring to a boil over medium-high heat.
Once boiling, reduce the heat to low and cover the pot. Simmer for about 1-1.5 hours or until the beans are tender. Check occasionally and add water if necessary to keep the beans submerged.
In a separate skillet, heat 1 tablespoon of olive oil over medium heat. Add the diced onion and sauté for about 5 minutes, or until translucent.
Add the minced garlic to the skillet and cook for another minute, stirring frequently to prevent burning.
Stir in the ground cumin, smoked paprika, and chili powder. Cook for 1-2 minutes until the spices are fragrant.
Once the beans are tender, drain any excess water and add them to the skillet with the onion and spice mixture.
Stir gently to combine everything well. Season with salt to taste and heat through for about 5 minutes.
Serve the pinto beans warm, garnished with fresh cilantro and lime wedges on the side.