Dianabol is not an extremely androgenic steroid, its androgenicity has been structurally reduced, but androgenic side effects are still possible. Such side effects of Dianabol use include acne, accelerated hair loss in those predisposed to male pattern baldness and body hair growth. Most men should not have a problem with such effects, response will be the final dictator, but most will remain clear. Although the odds are in your favor, such effects are brought on by Methandrostenolone being metabolized by the 5-alpha reductase enzyme. This is the same enzyme responsible for the reduction of testosterone to dihydrotestosterone, but the overall conversion here will result in very low amounts of dihydromethandrostenolone. This tells us 5-alpha reductase inhibitors like Finasteride that are often used to combat androgenic side effects will have very little if any affect on Dianabol.
Despite its reduced androgenicity, Dianabol can promote virilization symptoms in women. Such symptoms include body hair growth, a deepening of the vocal chords and clitoral enlargement. It is possible for some women to use this steroid without virilization symptoms with extremely low doses, but the odds are not favorable. Most all women should choose anabolic steroids with less translating androgenic activity to meet their needs.
Sex hormone-binding globulin (SHBG) is thought to mainly function as a transporter and reservoir for the estradiol and testosterone sex hormones. However it has also been demonstrated that SHBG can bind to a cell surface receptor (SHBG-R). The SHBG-R has not been completely characterized. A subset of steroids are able to bind to the SHBG/SHBG-R complex resulting in an activation of adenylyl cyclase and synthesis of the cAMP second messenger.  Hence the SHBG/SHBG-R complex appears to act as a transmembrane steroid receptor that is capable of transmitting signals to the interior of cells.