Soak Cashews at least 6 hrs or if you can soak overnight in cool water. Drain and then proceed with recipe.
Slice Jalapeños in half lengthwise and remove seeds (wear gloves or wash your hands right away after handling to avoid burning)
Place face down on baking sheet and broil on high 4-7 minutes until skin has blackened
Remove from oven and carefully peel the skin off of the Jalapeños (again you may want to wear gloves for this)
Add Jalapeños, Cashews, Nutritional Yeast, Chili Powder, Cumin, Garlic Powder, Smoked Paprika, Salt, and Water to a food processor
Blend until smooth, you may need to stop in between and scrape down sides
If you like your dip thinner, add more water if desired
Taste and add more spices to your liking if needed
Serve immediately (store leftovers covered in the refrigerator up to 5 days
You can also heat this in the microwave if you like your dip hot
Enjoy!