Most developed nations have multiple political parties, not just two. Protecting voters against the “wasted third-party vote” syndrome could be accomplished with ranked choice voting. See Fair Vote, the non-profit organization that is leading the charge to pass RCV nationally.
With ranked choice voting, if your first choice doesn’t win, your vote goes to your second choice; if your second choice doesn’t win, your vote goes to your third choice.
See how ranked voting works at DemoChoice.org